On a Note That Forms Part of a Consumer's Contract

question 18

True/False

On a note that forms part of a consumer's contract to buy goods for personal use, the notice in the contract required by FTC Rule 433 places an HDC of the note in the position of a contract assignee.

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Definitions:

John D. Rockefeller

An American industrialist and philanthropist, best known for his role in the development and expansion of the U.S. oil industry.

Mass Production

The manufacture of large quantities of standardized products, often using assembly lines or automated technology, which significantly reduces the production cost per unit.

Early 1950s

A period marked by post-World War II recovery and growth, the beginning of the Cold War, and significant social and economic changes worldwide.

Civil War

An internal conflict within a country between different groups or regions, often over issues of governance, territory, or cultural identity.