To Which of the Following Transactions Does the National Credit

question 15

Multiple Choice

To which of the following transactions does the National Credit Code apply?

• A)A retailer who allows their customer to pay for goods and services on credit.
• B)A creditor who offers short term credit where the creditor's fees and charges are less than 5% of the loan and the interest rate is less than 24%
• C)An employer who offers his employee a loan.
• D)A creditor who offers a housing loan.

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Definitions:

Title

The legal right to own, possess, use, control, and dispose of property or assets.

Real Property

Land and any permanent structures or improvements attached to it, such as buildings and houses, legally recognized as immovable.

Easement

A privilege to traverse or make use of another individual's property for a particular reason.

Chattel

Movable assets distinct from land or buildings.