A Third Party Who Buys a Note Arising from a Consumer

question 4

True/False

A third party who buys a note arising from a consumer credit transaction that lacks the notice required by FTC Rule 433 is still subject to the buyer's defenses against the seller because of the otherwise harsh effect of the HDC doctrine.

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Definitions:

Purchase Invoice Cost

The total cost reflected on an invoice that a buyer incurs to acquire goods or services, including the purchase price and related expenses.