The Truth in Lending Law Does Not Set the Interest

question 105

True/False

The Truth in Lending law does not set the interest rates or tell the creditor how to make interest calculations.

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Definitions:

Voluntary Aid

Assistance given freely and without obligation, often in the context of emergency or humanitarian efforts.

Strict Liability

Legal principle where the defendant is liable for the consequences of an action, regardless of their intention or negligence.

Inherently Dangerous

Activities or conditions that naturally involve a risk of injury or harm without needing negligence to be proved for liability.

Express Assumption

A clearly stated acceptance of risk or conditions as part of an agreement or contract.