Describe the Guidelines for Providing Reference Check Information

question 74

Essay

Describe the guidelines for providing reference check information.

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Definitions:

Collateral

Under Article 9 of the Uniform Commercial Code, the property subject to a security interest.

Impair

To weaken or damage something, especially a legal right, financial value, or physical condition.

FTC Rule 433

Known as the "Holder in Due Course" rule, it protects consumers entering into a credit transaction by preserving their right to assert claims against the seller, even when the debt is sold to a third party.

HDC

Holder in Due Course; a term used in the Uniform Commercial Code referring to a person who acquires a negotiable instrument in good faith and for value, thus obtaining certain rights.