What Is the Legal Effect of Using a Credit Card

question 44

Multiple Choice

What is the legal effect of using a credit card?

• A)A cheque is drawn on a financial institution to pay for goods and services purchase by the credit holder.
• B)The vendor selling the product advances credit to the purchaser and the debt is later paid by the card issuer.
• C)The bank undertakes payment on behalf of the card issuer and the amount becomes a debt payable to the card holder.
• D)The card issuer undertakes payment on behalf of the card holder and the amount becomes a debt payable by the card holder to the card issuer.

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Definitions:

Informal Notes

Casual, non-official records or messages that may lack structure but convey necessary information or reminders.

Personal

Referring to or pertaining to an individual, their private life, or their personal belongings.

Informal Nature

Characterizing situations, relationships, or behaviors that are casual or not bound by formal rules, regulations, or procedures.

Letter Style

The font or design of the alphabet in written communication, which can vary in formality and aesthetic.