Fact Pattern 21-A1 (Questions A9-A10 Apply)

question 6

Multiple Choice

Fact Pattern 21-A1 (Questions A9-A10 apply)
Internet Cafés,Inc.,contracts to buy all of its requirements for coffee,at a minimum of 1 million pounds per year,from Java Corporation for six years.After three years,Internet tells Java that it plans to sell its assets to Bagel Bistros,Inc.Bagel Bistros refuses to assure Java that it will continue Internet's contract.
-Refer to Fact Pattern 21-A1.Bagel Bistros's refusal is

• A)a justified response based on Bagel Bistros's relation to the contract.
• B)an assignment of Internet's rights under the contract.
• C)a reasonable suspension of performance under the contract.
• D)a repudiation of the contract.

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Definitions:

Fair Debt Collection Practices Act (FDCPA)

United States legislation that aims to protect consumers from abusive, deceptive, and unfair debt collection practices by setting guidelines that collection agencies must follow.

Collection Agencies

Companies that pursue payments of debts owed by individuals or businesses, typically on behalf of creditors.

Statute of Limitations

The law that sets the maximum time after an event within which legal proceedings may be initiated.

Truth in Lending Act (TILA)

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