A consumer's obligation to pay a consumer note is subject to remedies the consumer may have against the seller if the goods or services are defective.

Question

Quizplus · Accepted Answer

This statement is true because consumer protection laws often allow consumers to assert defenses or claims against the financier or creditor if the goods or services purchased are defective, essentially linking the consumer's obligation to pay with the quality of goods or services received. This is known as the principle of "holder in due course" in some jurisdictions, where the consumer's rights against the seller can be asserted against the creditor.

A Consumer's Obligation to Pay a Consumer Note Is Subject