Which of the following statements is true concerning the limitations upon a holder in due course rights?
a. The FTC rule regarding consumer transactions and the holder in due course rule is called the shelter rule.
b. The FTC rule restricting the rights of a holder in due course applies to goods sold only by merchant sellers.
c. The FTC has a rule restricting the rights of a holder in due course that is applicable to consumer credit contracts.
d. The FTC allows sellers and creditors to take or receive a consumer credit contract with the holder as and when the need arises.
c
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Differentiate between the four levels of competition and offer examples of each type.
What will be an ideal response?
Curtis filed a lawsuit against Ulhoff for failure to repay $1,000 according to the terms of a promissory note. The trial ended before it began, with the trial judge granting a motion for summary judgment in favor of Curtis. Ulhoff has appealed, and the Supreme Court of Iowa has remanded the case. This means A) Curtis automatically wins because he won in the lower court
B) Ulhoff automatically wins because he lost in the lower court. C) Neither party wins because the case is being thrown out. D) We don't know who wins yet because the case is being returned to the trial court for additional steps.
On January 1, 20X6, Pumpkin Corporation acquired 70 percent of Spice Company's common stock for $210,000 cash. The fair value of the noncontrolling interest at that date was determined to be $90,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: PumpkinSpiceCash $50,000 $15,000 Accounts Receivable 70,000 25,000 Inventory 30,000 20,000 Land 150,000 80,000 Buildings and Equipment 250,000 200,000 Less: Accumulated Depreciation (70,000) (20,000) Investment in Spice Co. 210,000 Total Assets $690,000 $320,000 Accounts Payable $40,000 $10,000 Bonds Payable 150,000 40,000 Common
Stock 300,000 90,000 Retained Earnings 200,000 180,000 Total Liabilities and Equity $690,000 $320,000 At the date of the business combination, the book values of Spice's assets and liabilities approximated fair value except for inventory, which had a fair value of $30,000, and land, which had a fair value of $95,000.Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet prepared immediately after the business combination? A. $30,000 B. $5,000 C. $0 D. $25,000
A petition for adoption does not have to be verified
Indicate whether the statement is true or false.