A Consumer Note Arises When

question 44

Multiple Choice

A consumer note arises when

• A)any consumer purchase is made on the basis of a promissory note.
• B)the lender of funds to the consumer is not at arm's length with the seller.
• C)the purchaser acts as an end-user and not as a purchaser for resale,and the goods are obtained by credit.
• D)a debt under a negotiable instrument representing a consumer purchase is assigned to a finance company.
• E)None of these.

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Definitions:

Work Permit

An official document granting a foreigner the permission to take employment in a country other than their own.

H2 Visa

A type of visa allowing individuals to come to the United States temporarily for seasonal agricultural work.

Government Authority

An organization or body with the power to enforce laws, regulate behavior, and oversee activities within a specific area.

Subsidiary

A company that is completely or partly owned and wholly controlled by another company, known as the parent company.