Did the contract violate the truth in lending act

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Reference no: EM131494776

Question: 1. Braun asked the Genesee Bank for a loan of $100,000 to expand her business. Must the bank disclose to Braun the finance charge and annual percentage rate?

2. Barnes bought a television set from Janeway on credit. The price tag indicated a price of $400. Barnes signed a contract agreeing to pay for the set in 12 monthly payments of $40 each. The contract contained no other terms. Did the contract violate the Truth in Lending Act?

Reference no: EM131494776

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