The Fair Debt Collections Practices Act Applies to Both Commercial

question 6

True/False

The Fair Debt Collections Practices Act applies to both commercial and consumer debt.

---

Definitions:

Special Property Interest

A specific legal right or claim one has in property, distinguishing it from general ownership interests.

Identified Goods

In a sales transaction, goods that are specified and agreed upon by both the buyer and seller at the time a contract is entered into.

Specific Performance

A legal remedy in which a court orders a party to perform their contractual obligations rather than compensating the other party with money.

Equitable Remedy

A non-monetary judgment in law where a court orders a party to act or refrain from acting, aimed at providing fair resolution in cases where monetary damages are insufficient.