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:

Marginal Rate of Substitution

The rate at which a consumer can substitute one good for another while maintaining the same level of utility or satisfaction.

Hunting Lodge

A place of accommodation often located in remote areas for people engaging in hunting or seeking rustic outdoor experiences.

Pure Public Good

A good that is non-excludable and non-rivalrous, meaning its use by one individual does not reduce its availability to others and cannot be withheld from those who do not pay for it.

Voluntary Contributions

Financial or resource donations given by individuals or entities by choice rather than as a result of taxation or legal obligation.