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Review Questions §8.09 Review 

 
Lesson 8:
Credit Cards

1. Mary looks at her monthly credit card statement from Giant Federated Stores and sees that she has been charged a penalty for early payment of her monthly balance. What are her remedies under the Unruh Act?

a. Cancel the account and bring suit for the penalty amount.

b. Give Giant Federated 30 days to correct before bringing suit.

c. Ignore the penalty.

2. Bob Buyer defaults on his installment payments. What are Sam Seller’s remedies?

a. Repossess the goods and resell.

b. Bring an action for the balance due.

c. Either a or b.

3. Clara Cardholder authorized her friend to use her credit card for a limited purpose. When the friend used the card to buy goods beyond the limited purpose, Clara Cardholder reported the card stolen, and informed the issuer that any subsequent use was unauthorized. What is Clara’s liability?

a. $50.

b. $100.

c. The total debt incurred by Clara’s friend on the card.

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