Tim Buys a High-Powered Tool from Binford Tools to Use

question 28

Multiple Choice

Tim buys a high-powered tool from Binford Tools to use on the construction of his own garage.Binford Tools provides a full warranty on the tool for the first six months.To pay for the tool,Tim signs a negotiable promissory note which contains the FTC Consumer Credit Notice.Binford properly negotiates the note to First Finance.Within three weeks,the tool stops working and Binford refuses to repair or replace it.In the meantime,First Finance demands payment from Tim.Under the Federal Trade Commission rules,this consumer credit situation means First Finance 

• A)can collect if it is a holder in due course.
• B)can collect if it is not a holder in due course.
• C)can collect whether or not it is a holder in due course.
• D)cannot collect.

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Definitions:

Ecological Niche

Of a species, unique set of requirements and roles in an ecosystem.

Unique Requirements

Specific needs that are particular to an individual organism, system, or process, distinguishing them from others.

Ecosystem

A biological community of interacting organisms and their physical environment, considered as a system of energy flow and nutrient cycling.

Habitat

Type of environment in which a species typically lives.