Answer:
Under the Truth in Lending Act a consumer obtains a loan that is secured by a principal residence the has the right to rescind in three business days with the exception of a purchase and construction of a principle residence. This statement is TRUE.
Explanation:
The 'Truth in Lending Act' ( TILA) ensures that there is a specific way informed to use credit cards. It promotes the exposure of its terms and costs so that there is a standard way of calculating the cost of loan borrowing. This is a federal law in which lenders are required to provide clients with all the information of loan cost so that they can compare various loans that are given.
Under this act, debtors can cancel certain transactions for a period of three days from the date of transaction or the date from which notice has been given of their right to withdraw, whichever is later. Thus, the statement is TRUE.
It is precisely that , yet may be of personal implications
The answer to this question is <span>when two variables are correlated, we cannot be sure what is causing the correlation.
For example, let's there is a study that found an increase in consumption in tofu lead to an increase in breast cancer.
Even if it's true that those two really correlated (let's just assume it), we wouldn't be able to know why it is correlated without further researches.</span>
