Under the Home Ownership and Equity Protection Act, If a Creditor

question 111

Multiple Choice

Under the Home Ownership and Equity Protection Act, if a creditor does not give the debtor notice of the three-day cooling off period the debtor's right of recission:

• A)doubles in duration.
• B)triples in duration.
• C)extends to three years.
• D)extends to three months.

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Definitions:

In Personam

Pertaining to a legal action directed against a specific person demanding them to take a specific action or refrain from doing so.

In Rem

A legal term referring to a court's jurisdiction over an object or property rather than over a person.

Forum Non Conveniens

A legal principle allowing courts to dismiss a case if another court or forum is more suited to hear the case, usually because it is more convenient for the parties or the evidence.

Federal Criminal Prosecutions

The legal proceedings initiated by the federal government against individuals or entities accused of violating federal criminal laws.