Question

In the event of delinquency, the Buyer may divide any payment not received into not more than three equal installments to be included on the next consecutive monthly payments. Notification of the Buyer’s intent to do so must be made by written letter or phone call to the phone number and address listed below within one business week of delinquency.”
According to the contract, which of the following is not a responsibility of the buyer?
a.
Pay the monthly payment on time.
b.
Notify the bank if a payment is going to be late.
c.
Pay an additional $75.00 with a payment made after the 15th day of the month it was due.
d.
Notify the bank of his or her intent to split a late payment into three partial payments.

Answer 1

Answer:

Option B

Step-by-step explanation:

Given:

As per the contract "Notification of the Buyer’s intent to do so must be made by written letter or phone call to the phone number and address listed below within one business week of delinquency.”

So,buyer needs to only notify the bank about the monthly payments in case of delinquency and not about if payment is going to be late or not.

Option B is correct

Notify the bank if a payment is going to be late !