Which One of the Following Should Be Included in an Early

question 388

Multiple Choice

Which one of the following should be included in an early termination notice in case of the termination from consumer leasing agreement?

• A) A warning to the consumer that a substantial charge may result from early termination (required only in a motor vehicle lease)
• B) A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term
• C) The purchase option at the end of the lease term
• D) The amount of any penalty or other charge for early termination (the penalty must be reasonable)

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Definitions:

Misrepresentation

The act of providing false or misleading information, often with the intent to deceive others during agreements or transactions.

Allegorical Statement

An expression that uses symbolic figures, actions, or representations to convey a deeper moral or spiritual meaning.

Metaphorical Statement

An expression that refers to one thing by mentioning another, used to make a comparison that emphasizes a particular point or concept.

Communicating

The process of conveying or sharing information, ideas, or feelings through speech, writing, signals, or behaviors.