Generally,the More Knowledgeable the Customer,the Greater the Chances the Court

question 11

True/False

Generally,the more knowledgeable the customer,the greater the chances the court will interpret an incorrect statement by a salesperson as an actionable misrepresentation rather than as sales puffery.

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Definitions:

Truth-In-Lending Act

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

Truth-In-Lending Act

is a federal law designed to protect consumers in their dealings with lenders and creditors by requiring clear disclosure of key terms of the lending arrangement and all costs.

Loan Between Two Consumers

A financial agreement in which one consumer lends money to another consumer without the involvement of traditional financial institutions.

Extending Credit

The practice of allowing a buyer to purchase goods or services now and pay for them later.