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

question 7

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.Under federal law,if 24-Hour Credit fails to provide certain material disclosures with respect to the loan,Benny's right to rescind the loan

• A)expires at midnight on the day the loan is finalized.
• B)is immediately revoked.
• C)is extended for up to three years.
• D)is tolled for the duration of the loan payments.

Examine contracts within the context of real-life scenarios and legal doctrines like promissory estoppel to assess enforceability and obligations.

Explore the role and definitions provided by authoritative legal texts such as The Restatement, Second, of Contracts.

Understand the effective moments of acceptance and rejection in contract formation.

Recognize the formation of contracts based on mutual understanding of the offer.