The notice requirement of the Federal Trade Commission's rule for consumer credit contracts has the effect of:
A)limiting the types of defenses to payment available to a consumer.
B)eliminating the real defenses to payment.
C)permitting claims and defenses to payment to be asserted by a consumer, even against holders in due course.
D)permitting some personal defenses to be asserted.

Question

Quizplus · Accepted Answer

The notice requirement of the FTC's rule for consumer credit contracts permits claims and defenses to payment to be asserted by a consumer, even against holders in due course. This means that consumers can assert their rights and defenses against any party who holds their debt, even if it has been sold or transferred to another company. This offers greater protection to consumers and helps prevent abusive or deceitful practices by creditors.

The Notice Requirement of the Federal Trade Commission's Rule for Consumer