Exam 46: Consumer Protection Laws

Ben entered into a contract with Clooney Construction Inc.under which Clooney agreed to do $40,000 worth of remodeling of his home.Clooney agreed that the contract price could be paid in installments,and that to secure these payments,Clooney would take out a second mortgage on Ben's home.The day after signing the contract,Ben had second thoughts and immediately hand-delivered a written notice to Clooney stating that he wanted to rescind the contract.Which of the following statements is true of this case?

Manjur and Fatima are both 63 years old and have a flourishing business.They decide to purchase a beach house and seek a 15-year mortgage.In this scenario,the lender _____.

The Fair Debt Collection Practices Act:

According to the Fair Credit Billing Act (FCBA),if the credit card holder thinks that the card issuer has made an error on the statement,he has _____.

The rules of the Federal Trade Commission prohibit a telemarketer or a seller from initiating an outbound call to a person whose telephone number is listed on a national do-not-call registry.

Only civil penalties are imposed on those who knowingly and willfully violate such provisions and rules after Consumer Product Safety Commission's notification of their failure to comply.

Arbitration of disputes under the purview of "lemon laws" under state statute is:

The Holder in Due Course rule:

The Consumer Leasing Act:

Generally,remedies under "lemon laws" include: