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Which of the Following Contracts Would Be Illegal in Ontario

Question 5

Multiple Choice

Which of the following contracts would be illegal in Ontario?


A) the TD Bank charging a risky customer 64% annual interest rate on a 3 year $20,000 car loan
B) Money Mart charging an unemployed man 320% annual interest rate on a 2 week $300 loan
C) the Royal Bank charging an illegal immigrant 50% annual interest rate on a 2 year $10,000 loan
D) Money Mart charging an unskilled woman 500% annual interest rate on a 3 week $600 loan
E) All of these contracts would be illegal in Ontario

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