The Types of Provisions That Make Contracts Unconscionable Include Clauses

question 50

True/False

The types of provisions that make contracts unconscionable include clauses that award excessive damages or the application of credit payments across purchases over time so that the consumer is never able to pay off any goods.

---

Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers for sales on credit.

Credit Policies

Guidelines that a company follows to determine the creditworthiness of customers, terms of credit, collection procedures, and how much credit to extend.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used, but not yet paid for.