Restrictions Placed on a Company by the Lender Are Also

question 20

True/False

Restrictions placed on a company by the lender are also known as covenants.

---

Definitions:

Truth-In-Lending Act

A federal law designed to promote informed use of consumer credit by requiring disclosures about terms and costs.

Retail Installment Sale

A transaction where the buyer pays for goods in regular installments while the seller retains ownership until the full price has been paid.

Food And Drugs

Pertains to the regulation and oversight of the production, distribution, and safety of food products and pharmaceuticals.

Consumer Product Safety Commission

A U.S. government agency responsible for protecting the public from unreasonable risks of injury or death associated with consumer products.