An owner advertised "beautiful acreage only $5,000 down, owner will personally finance down payment." Would this be in violation of the Truth in Lending Act?

Answers

Answer 1

Answer:

Answer:

No, owners are not covered by the Truth in Lending Act.

Explanation:

Based on this scenario it can be said that No, owners are not covered by the Truth in Lending Act. This regulation basically requires that all financing terms and conditions are disclosed if any such aspect like a low-interest rate, downpayment or other enticement is featured in the advertisement. Even though this is the case in this scenario, the Truth in Lending Act does not apply to individuals selling their own property and therefore does not apply in this situation.

Related Questions

Quince owns a used-car lot where ray works as a salesperson. quince tells ray not to make any warranties for the cars. to make a sale to sylvia, however, ray adds a 50,000-mile warranty. later, sylvia sues quince for breach of warranty. quince's right to hold ray liable for any damages he has to pay is the right ofa. indemnification.b. reimbursement.c. cooperation.d. avoidance.
The amount the bank charges for use of money is called interest. True False
When you convert 0.63 to a fraction which of the following could be the first step of the process
REALTORS®: a. protect and promote the interests of their clients. b. treat all parties honestly. c. promote their interests over their clients' interests. d. A and B only.
What is the failure rate for a franchise?

Terry owns an RV repair shop. Sue works in the office and also orders any parts needed to repair RVs.Which of the following choices correctly matches productive resources from the previous statement?

parts-land; Tommy-labor

Tommy-entrepreneur; Sue-labor

parts-capital; Sue-entrepreneur

office-capital; parts-land

Answers

Terry- entrepreneur; Sue- labor

What are "ego" needs?

Answers

egative situations to arise so it can have something to do, something to worry about, or something to change.

Bonds issued by Animite Energy are selling at a rate of 95.230. Which of the following statements is true for a bond of par value $1,000?a.
The market value includes a premium of $5.23.
b.
The market value includes a premium of $10.50.
c.
The market value includes a discount of $47.70.
d.
The market value includes a discount of $95.23.

Answers

Answer:

c.The market value includes a discount of $47.70.

Explanation:

MArket value is the price that you would pay in the market to buy a certain bond that is worth something, so for example if the the bonds are issued at a rate of 95.230 that´s the percentage you need to pay for the bond, so right now for a $1000 bond you would pay $952.30 dollars, that means that the value of $1000 has a $47.70 disscount in the market value.

Answer:

C. The market value includes a discount of $47.70

__________ involves creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business so that it is more effective and efficient.a. organizing production b. management c. tactical d. planning e. leadership

Answers

Answer:

e. leadership

Explanation:

Creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business so that it is more effective and efficient are the characteristics of the Leadership only.

A leader creates a vision which other follows and it adapt and implement the change in the business way of the organization and also emphasizes on the values and ethics throughout the organization. No other option have all theses characteristics altogether.

Who opposed the loaning of money at interest? the Catholic Church King Edward King John commoners

Answers

Answer:

The answer is: the Catholic Church

Explanation:

The Catholic Church is not the only religion that opposes loaning money at interest: Muslims, Jews and other Christians also oppose it. It is considered a sin by many, the term they use is usury.

Probably if you think about it in a religious way, you might believe that interest is bad. I agree that businesses that charge higher interest rates than usual to certain groups of people are doing wrong (e.g. payday loans), but what banks do is not.

It is also a matter of personal belief, because it's easier to criticize someone else, but banks sometimes do good things. They help people buy their houses or pay for expensive medical care.

The world has changed, and will keep changing. Many things that we consider normal now will probably be considered outrageous in 50 or 100 years.

The one that opposed the loaning of money at interest is : The catholic Church

It's written in their Holy Bible that you shall not charge interest to your Brother, interest on money, interest on food, interest on anything that is lent on interest

Pine Mills Inc. and Quality Lumber Company enter into a contract for a sale of plywood to be delivered under a destination contract. This contract requires Pine Mills, the seller, to Select one: a. inspect the goods before tendering their delivery. b. place the goods into the hands of a carrier. c. allow the buyer to rejectthe goods for any reason. d. deliver the goods to a particular destination.

Answers

Answer:

c. allow the buyer to reject the goods for any reason.

Explanation:

Under a destination contract, the seller usually bear the risk until the goods get to and are accepted by the buyer. The carrier is the responsibility of the seller and the risk of loss is on the seller until he completes his delivery obligation.

Other Questions

Which of the following types of coverage would pay for damage to your automobile in an accident for which you were at fault?a. Property damage liability b. Collision c. Comprehensive physical damage d. No-fault insurance Joe Johnson needs surgery for appendicitis. Which part of his basic insurance coverage should help pay for this surgery? a. Hospital Expense Insurance b. Surgical Expense Insurance c. Physician Expense Insurance d. Major Medical Expense ...

The most economical way to purchase large items, such as furniture, is to buy with?

Marketing ethics refers to

Suppose that Christine owns her own CPA firm. She uses only two inputs in her business: her hours worked (labor) and a computer (capital). In the short run, Christine most likely considers.