Consumer Leases

question 44

Multiple Choice

Consumer leases:

• A) must always be evidenced by a writing.
• B) are always three- party transactions.
• C) require the lessor to make all usual warranties made by a seller in a sale of goods..
• D) all of these.

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Definitions:

Indorser

A person who endorses a negotiable instrument.

Rights

Entitlements or permissions, either granted by law or moral principles, allowing individuals to perform certain actions or to be treated in specific ways.

Holder in Due Course

A legal term describing a person who has acquired a negotiable instrument in good faith for value and without notice of certain defects.

Holder's Actions

Decisions or moves made by the individual or entity that possesses or controls a financial instrument or legal document.