Examlex
Webster Industries has a unionized workforce.Fredrick's job of operating a stamping machine has been eliminated by technological advances, but the union is requiring Webster to pay Fredrick for the work he would have performed had the machine still been in operation.This requirement is a violation of:
Truth In Lending Act
A U.S. federal law designed to promote informed use of consumer credit by requiring clear disclosure of terms and conditions of lending agreements.
Commercial Use
Refers to the use of a product, service, or property in a business or profit-making activity as opposed to personal, non-commercial purposes.
Open-End Credit Plan
A revolving line of credit that allows a borrower to make purchases or obtain loans up to a certain limit and repay part or all of the balance over time, with interest charges on the unpaid balance.
Credit Card Issuer
The financial institution or entity that provides a credit card to consumers, extending credit for purchases and cash advances.
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