Borrowers are required to recite the terms of their loans in clear,readily understandable language so that lenders can make rational choices.

Question

Quizplus · Accepted Answer

This statement is actually the opposite of the truth. It is the lenders who are required to provide the loan terms in clear, readily understandable language so that borrowers can make rational choices. This is mandated by laws and regulations promoting transparency in lending practices.

Borrowers Are Required to Recite the Terms of Their Loans