Reference no: EM132152713
1. Under the Equal Credit Opportunity Act:
alimony received and child support payments are not considered sources of income.
questions concerning plans for children should be asked before sanctioning credit.
if the credit is refused, the creditor, on demand, must disclose the reasons for rejection.
the creditor must ask all credit applicants for a statement of marital status.
a spouse is required to cosign irrespective of the other spouse's creditworthiness.
2. The _____ amended the Truth in Lending Act by requiring credit card issuers to disclose in a uniform manner the annual percentage rate, annual fees, grace period, and other information on credit card applications.
Fair Credit Reporting Act
Consumer Leasing Act
Truth in Lending Act
Fair Credit and Charge Card Disclosure Act
Credit Card Accountability, Responsibility, and Disclosure Act
3. The Uniform Commercial Code permits sellers to exclude warranties in whole or in part.
True
False
4. A tenancy that will last only so long as the landlord and tenant desire is known as a(n) _____.
open listing
fee simple estate
estate for years
tenancy at will
periodic tenancy
5. This is an organized codification of the common laws of contracts.
The Restatement of the Law of Contracts
The Uniform Commercial Code
Implied in law
Case law
International Sale of Goods