Tim Buys a High-Powered Tool from Binford Tools to Use

question 28

Multiple Choice

Tim buys a high-powered tool from Binford Tools to use on the construction of his own garage.Binford Tools provides a full warranty on the tool for the first six months.To pay for the tool,Tim signs a negotiable promissory note which contains the FTC Consumer Credit Notice.Binford properly negotiates the note to First Finance.Within three weeks,the tool stops working and Binford refuses to repair or replace it.In the meantime,First Finance demands payment from Tim.Under the Federal Trade Commission rules,this consumer credit situation means First Finance 

• A)can collect if it is a holder in due course.
• B)can collect if it is not a holder in due course.
• C)can collect whether or not it is a holder in due course.
• D)cannot collect.

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Definitions:

Low-Fat Diets

Diets that are specifically low in fats, typically designed to help with weight loss or to manage cholesterol levels.

Commercial Weight Loss

Programs or products marketed to help individuals lose weight, often involving diet plans, supplements, or exercise regimens.

Body Weight

The measure of weight of an individual's body, often used as an indicator of health.

Health Benefits

Positive impacts on physical and/or mental well-being, often resulting from healthy lifestyle choices and preventive care measures.