As a Result of the Global Financial Crisis in 2008

question 18

Multiple Choice

As a result of the global financial crisis in 2008 and 2009,the U.S.government was often criticized for "bailing out" large financial institutions. Such bailouts are examples of:

• A)Corporate governance
• B)Corporate socialism
• C)Financial negligence
• D)Capitalism
• E)Deregulation

Understand the regulation and impact of consumer credit on consumer protection.

Recognize the remedies available to consumers under both statutory and common law.

Understand the specific regulations related to product safety and labelling.

Learn about the regulation of debt collection practices and the rights of consumers.

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Definitions:

Contracts

Legally binding agreements between two or more parties that are enforceable by law.

Torts

Civil wrongdoings recognized by law as grounds for a lawsuit, resulting in injury or harm constituting the basis for a claim by the injured party.

Independent Contractor

An individual or entity contracted to perform work for another entity as a non-employee, often with greater control over their work processes.

Nonemployee Agent

An individual or entity that acts on behalf of another person or entity in a specific role or capacity but is not considered an employee for legal and tax purposes.