In an Agreement Between Two Parties, If the Facts Indicate

question 12

Multiple Choice

In an agreement between two parties, if the facts indicate that a term was left out because the parties were unable to reach an agreement about it, it would probably mean that the:

• A) CISG must fill in the gaps only if the price terms are left in the agreement.
• B) parties intended to contract and CISG must fill in any gaps left in the agreement.
• C) UCC must fill in any gaps left in the agreement.
• D) intent to contract is absent, and no contract was created.

---

Definitions:

Truth In Lending Act

A U.S. federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.

Open-End Credit

A revolving line of credit that allows borrowers to spend up to a specified limit, pay off the debt, and borrow again without having to reapply for a new loan.

Detailed Disclosure

Detailed disclosure refers to the comprehensive provision of information relevant to a decision, transaction, or agreement, often required by law or regulations in financial and other formal contexts.

Debit Card Applications

Debit card applications are forms or processes by which individuals apply for cards that allow them to spend money by deducting directly from their bank accounts.