In Which of the Following Circumstances Is a Debtor Not

question 50

Multiple Choice

In which of the following circumstances is a debtor not empowered to apply to a Court for changes to be made to a credit contract?

• A)When the debtor is a corporation.
• B)When the debtor cannot meet the repayments because they are experiencing hardship.
• C)When the credit contract is unjust.
• D)When the debtor was unable to pay the amount required under the consumer contract and the creditor could have ascertained this through appropriate enquiries.

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Definitions:

Federally Insured Commercial Banks

Financial institutions engaged in deposit-taking and lending that are covered by a federal insurance program to protect depositors' funds in the event of the bank's failure.

Federal Reserve System

The central banking system of the United States, responsible for monetary policy, financial regulation, and the stability of the financial system.

Investor

An individual or entity that allocates capital with the expectation of receiving financial returns, often through the purchase of stocks, bonds, or other investment vehicles.

Outstanding Stock

The total shares of a company that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.