Which of the Following Types of Credit Contracts Are Protected

question 3

Multiple Choice

Which of the following types of credit contracts are protected by the National Credit Code?

• A)An account with a department store.
• B)Consumer credit contracts that must be repaid in 30 days.
• C)Insurance premiums paid by instalments.
• D)Credit provided by pawnbrokers.
• E)All of the above.

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Definitions:

Minimum Wage Law

Legislation that sets the lowest hourly wage rate that an employer can legally pay their employees, aiming to ensure a basic standard of living for workers.

Wage Inequality

The disparity in levels of wages earned by various groups in a population, often measured across genders, ethnicities, or education levels.

Legally Pay

The act of disbursing salaries, wages, or payments in accordance with the laws and regulations governing employment and financial transactions.

Firms

Businesses or economic entities that engage in the production and sale of goods or services to consumers.