If Your Credit Application Is Denied,you

question 77

Multiple Choice

If your credit application is denied,you:

• A)should sue the credit rating agency.
• B)should file a complaint against the merchant.
• C)have no legal right to know why.
• D)are entitled to know the specific reason you were denied credit.
• E)can reapply for credit after 30 days.

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Definitions:

Bailee

A person or entity in temporary possession of property belonging to another, with the responsibility of care and return.

Bailor

The owner of a chattel who delivers possession of the chattel to another in a bailment.

Vicarious Performance

A performance of a contract by a third party, where the contracting party remains liable for the performance.

Licensed Mechanic

A technician who has obtained official authorization or certification to perform mechanical repairs and maintenance on various types of machinery, especially vehicles.