If a Consumer Bill or Note Is Marked "Consumer Purchase

question 49

True/False

If a consumer bill or note is marked "consumer purchase" as required by the Bills of Exchange Act, the maker may raise a defence against a finance company that takes the bill or note for value and through endorsement based on breach of contract by the payee.

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Definitions:

Terminal Values

Fundamental beliefs or ideals that individuals or organizations see as their ultimate goal, guiding their long-term behavior and decisions.

Instrumental Values

Preferences regarding the means to desired ends.

Inner Harmony

A state of mental and emotional balance where an individual feels peace and satisfaction with life’s circumstances.

Family Security

The state of being free from danger or threats regarding a family's health, well-being, and financial position, ensuring a stable environment.