Which of the following is generally true about the Federal Trade Commission's (FTC)regulations of the holder in due course rule?
A)Some states have eliminated the holder in due course rule by repealing the previous version of Article 3 and refusing to adopt the new version.
B)The FTC has seriously limited the rule's impact in consumer credit situations in which the consumer signs a note or an installment sales contract,or gets financing from a third party.
C)These changes in the holder in due course rule reflect the economic power and political influence of business interests,especially banks.
D)Overall,the FTC's changes in the holder in due course rule are insignificant,especially in consumer cases.

Question

Quizplus · Accepted Answer

The Federal Trade Commission (FTC)has promulgated a regulation designed to protect consumers against operation of the holder in due course rule.The FTC rule applies to persons who sell to consumers on credit and have the consumer sign a note or an installment sale contract or arrange third-party financing of the purchase.

Which of the Following Is Generally True About the Federal