Fact Pattern 31-1A (Questions A12-A14 Apply)

question 13

Multiple Choice

Fact Pattern 31-1A (Questions A12-A14 apply)
24-Hour Credit Corporation issues high-cost and high-fee mortgage products to people,including Benny,who could not easily obtain credit under other loan programs.
-Refer to Fact Pattern 31-1A.24-Hour Credit assigns Benny's loan to Consolidated Mortgage Investment Corporation.For most purposes,Consolidated

• A)acquires the status of a holder in due course (HDC).
• B)has more protection than a mortgage assignee but less than an HDC.
• C)is exempt from federal law with respect to mortgages.
• D)is subject to claims that Benny could assert against 24-Hour Credit.

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Definitions:

Moles

A measure of quantity in chemistry that represents 6.022 x 10^23 particles of a substance.

Helium

Helium is an inert gas with the atomic number 2, notable for its low density, lack of color, odor, or taste, and for being the second lightest and second most abundant element in the observable universe.

KCl

Potassium chloride, a metal halide salt composed of potassium and chlorine, used in medicine, food processing, and scientific applications.

Moles

A chemical unit of measure that denotes an amount of substance containing approximately 6.022 x 10^23 particles.