Under FTC Rules,when a Customer Legally Cancels a Door-To-Door Sales

question 44

Multiple Choice

Under FTC rules,when a customer legally cancels a door-to-door sales contract,the seller must return the buyer's money within

• A)3 days.
• B)5 days.
• C)10 days.
• D)a "reasonable time" after the sale was made.

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Definitions:

Cheques

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a specified person.

Deposits

Funds placed into an account at a banking institution for safekeeping, which can include money market accounts, savings accounts, and certificates of deposit.

Outstanding

Refers to shares that are currently held by investors, including both public shareholders and restricted company shares.

Adjusted Bank Balance

The bank account balance after accounting for transactions like outstanding checks and deposits in transit.