Which of the Following Sources of Consumer Loans Often Has

question 37

Multiple Choice

Which of the following sources of consumer loans often has the most favorable terms for borrowers?

• A)Commercial banks
• B)Credit unions
• C)Consumer finance companies
• D)Savings and loan associations
• E)Asset management companies

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Definitions:

Legal Consent

An agreement made by someone with full understanding and willingness, often pertaining to legal contracts or medical procedures.

Mutual Mistake

A misunderstanding or error shared by all parties to a contract about a fundamental fact that is central to the contract, potentially voiding the agreement.

Basic Assumption

A fundamental belief or premise that is accepted as true without proof.

Genuine Assent

An agreement to enter into a contract that is not clouded by factors such as fraud, duress, undue influence, or mistake.