Multiple Choice
Which of the following can be a result under state law for violating a usury statute?
A) the interest rate in the contract will be adjusted down to the maximum legal rate
B) the court will not enforce the payment of any interest at all
C) the court will not enforce payment of the principal or the interest
D) the interest rate in the contract will be adjusted down to the maximum legal rate, or the court will not enforce the payment of any interest at all
E) the interest rate in the contract will be adjusted down to the maximum legal rate, the court will not enforce the payment of any interest at all, or the court will not enforce payment of the principal or the interest
Correct Answer:
Verified
Correct Answer:
Verified
Q34: The law has developed two (2)standards concerning
Q35: When can a minor disaffirm a contract?<br>A)
Q36: A court-appointed guardian is the only person
Q37: Which of the following is generally true
Q38: In most states today the period of
Q40: Mike works as a bartender at a
Q41: Licensing statutes enacted to protect the public
Q42: A person who is aware that a
Q43: Ratification relates back to the inception of
Q44: A contract with an illegal object is