Jillian and Ruth are neighbors.In the ordinary course of their respective businesses,neither Jillian nor Ruth lend money,sell on credit or arrange for the extension of credit.Jillian sells Ruth a lawn mower that Ruth must pay for through six months of monthly payments.The sale is

Question

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The Truth-in-Lending Act only applies to creditors who regularly extend credit or arrange for the extension of credit. Since neither Jillian nor Ruth typically engage in lending, selling on credit, or arranging for the extension of credit, the sale of the lawnmower through installment payments is not covered by the Truth-in-Lending Act.

Jillian and Ruth Are Neighbors