The truth-in-lending act, John loans George money and they

The truth-in-lending act

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Reference no: EM131016563

John loans George money and they sign a written agreement whereby George will repay John in monthly installments. Is this loan subject to the Truth-in-Lending Act?

A) Yes, if the loan is for more than $1,000.

B) Yes, if John and George live in different states.

C) No, if John is not in the business of offering credit.

D) No, if John and George are related.

Reference no: EM131016563

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