1) A consumer may rescind a contract without liability when the contract is for: the purchase of a new automobile. the purchase of a used automobile….
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1) A consumer may rescind a contract without liability when the contract is for:
A. the purchase of a new automobile.
B. the purchase of a used automobile.
C. a home-solicited sale of services for $50 within three days.
D. a home-solicited sale of goods for $25 that was made ten days earlier.
2) The owner of a lost credit card is:
A. liable for all purchases made by its finder if the card was lost through negligence.
B.not liable for any purchases if the card was lost despite the exercise of reasonable care by the cardholder.
C. liable for all purchases if the card originally had been sent to the cardholder without any prior request and never was used by such holder.
D. never liable for more than $50 of the purchases made by the finder.
3) The Fair Credit Reporting Act applies:
A. to or evaluating consumer credit for third anyone who generates a credit report.
B. to anyone who regularly engages in the practice of disseminating or evaluating consumer credit for third parties.
C. only to commercial lenders.
D. only to credit reporting bureaus, whose reports, in addition to financial information, include information from interviews with colleagues and neighbors.
4) A jury found that Amos is liable for $42,000 of Alice’s injuries while he was driving drunk. Amos will be able to avoid this verdict when he files for bankruptcy