A Consumer Note Arises When

question 47

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 the responses are correct.

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Definitions:

Communication

The process of sending and receiving symbols with attached meanings.

Countercultures

Groups in which the patterns of values and philosophies outwardly reject those of the organization or social system.

Subcultures

Groups exhibiting unique patterns of values and philosophies not consistent with the dominant culture of the larger organization or system.

Ethnic

Relating to a population subgroup with a common national or cultural tradition, often characterized by distinct language, culture, and sometimes physical characteristics.