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In Palmer V

Question 52

Multiple Choice

In Palmer v.Champion Mortgage,Palmer received a debt-consolidation loan from Champion.When she signed the loan agreement,she also received the required TILA disclosures.Several days later Palmer received copies of the documents and a notice of her right to cancel under TILA,which permitted her to cancel within three business days of three different dates stated in the document.Over a year later,Palmer filed to cancel the transaction,claiming that the time frames given to her in the TILA disclosures were too confusing.The court held that Palmer


A) could cancel her loan because the time disclosures were too confusing.
B) could cancel her loan because of the extended three-year time frame of the TILA.
C) could not cancel her loan because the TILA does not permit cancellation of loans.
D) could not cancel her loan because the TILA disclosures would not confuse an objectively reasonable consumer.

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