A developer advertises homes for sale with a total down payment of $2,000. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Is this transaction covered under Truth in Lending Act

Question

04-07-2020
Business

contestada

A developer advertises homes for sale with a total down payment of $2,000. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Is this transaction covered under Truth in Lending Act

Respuesta :

Otras preguntas

A shed has a rectangular floor and a flat roof with dimensions that are the same as those of the floor. The shed has a volume of 1500 cubic feet. If the floor d

The consumer’s right to safety means that goods and services will not be hazardous __________. A. if used by any responsible adult B. under any circumstances wh

dave and his sister picked out two pumpkin at the pumpkin patch. the pumpkins cost $0.47 per pound. david's pumpkin weighed 13.24 pounds and his sister's pumpki

what is the answer to 1 3/5 × 3/5

Equivalent expressions 24x-8x

Six times a number decreased by ten is eight. find the number. a.2b)3c)4d)5

Why is it better for groups to be small—twelve or fewer people?

What is 25%(percent) Of 42

14.2t-25.2=3.8t+26.8 , what does t equal

jepessoa jepessoa · Answer 1 · 2020-07-04T04:45:00+02:00

Answer:

Yes, this transaction is covered by the Truth and Lending Act because it represents an illegal and deceptive sales practice known as bait and switch advertising. Regulation Z (Truth and Lending Act) prohibits developers from carrying out deceptive advertising that might hurt the financial position of the potential buyer.

Generally bait and switch practices happen when a company advertises a certain product with a deep discount, but when a customer approaches, the product is no longer available and another substitute (but more expensive) product is offered.