Under Article 2A

question 32

Multiple Choice

Under Article 2A:

• A) a court faced with an unconscionable contract or clause must refuse to enforce the entire contract.
• B) consumers in an unconscionable consumer lease contract receive an additional remedy over consumers in unconscionable sales contracts. Reasonable attorneys' fees may be awarded.
• C) there is no provision for relief for unconscionable conduct in the collection of a claim arising from a consumer lease contract.
• D) lessees under all types of leases of personal property have the same protections against unconscionable contracts.

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Definitions:

Taxable Amount

The portion of income, withdrawals, or distributions subject to tax.

Annuity Payment

Periodic payments received from an annuity contract, usually for retirement income, which can be fixed or variable in amount.

Roth IRA Withdrawals

Withdrawals from a Roth Individual Retirement Account that can be tax-free if certain conditions are met, such as the account being open for at least five years and occurring after the age of 59½.

Keogh Plan

A retirement savings plan for self-employed individuals and their employees, allowing for tax-deferred growth of investments.