Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Loans in Maryland
1. What is the maximum possible rate of interest for a loan made in Maryland, by a Maryland-based creditor?
Answer: 6%
2. Assuming that an unsecured consumer loan falls within the Interest and Usury subtitle, what would be the maximum rate of interest for a loan made by oral agreement?
Answer: There is no absolute maximum because there is no cap on rates for some kinds of loan.
3. Assuming that a loan falls within the Interest and Usury subtitle, which of the following would be FALSE?
Answer: To have an interest rate higher than 6%, all loans must be in writing.
4. Which of the following would NOT be covered by the definition of Creditor under TILA?
Answer: A store which allows an individual to buy a $500 computer, with the price payable in one month, on the condition that the individual also purchases a $50 extended warranty on the computer.
5. Suppose that you wanted to charge the highest possible interest rate on a $10,000 consumer loan, to an individual, not secured by real property (and assume that you did not care about any other factor but the interest rate). Which of the following kinds of loans would be the...
Which of the following would be part of the “Finance Charge” under TILA?
Answer: A fee for obtaining a consumer report on the borrower to determine the borrower’s creditworthiness.
7. Which of the following would NOT be part of the “Finance Charge” under TILA?
Answer: A fee for the administrative costs of drawing up the loan paperwork.
8. Suppose that a finance company in Delaware made an unsecured consumer loan, in writing, at an interest rate of 50% per year in Maryland. Has the finance company broken the law?
Answer: Yes, because the interest rate exceeds the maximum interest rate allowed by Maryland law.
9. Which of the following would NOT be a legal loan for a National Bank, based in a state which caps interest rates at 25%?
Answer: An secured consumer loan for the purchase of a 10 year old used car in its home state, at an interest rate of 27%.
10. Suppose that a creditor fails to properly disclose the APR of an unsecured, open-ended credit plan (i.e. a credit card) to a consumer,…
Law case study Section 9 As laid out in both Federal Rules of Civil Procedure and the Maryland Rules, for a class to be certified, the requirements are that; · The class should have numerous members such that it would be impractical, to sue or be sued one by one. In such a case, it would take only one to act as a representative for all. The suggested number for probable class action
" (McCullough v. Maryland, 1819). Doherty's response to that statement is: Ah well, the constitution is not a suicide pact, after all; nor is it a shopping list, a condominium agreement, or any number of other things. But it was meant to be a document that defined in a strictly limited way what government could do, and also to a significant degree how it could do it. (Doherty). Obviously, Doherty recognizes that
Com" from an Internet host in Maryland to a host in New York. The New York host turned out to be merely an intermediary of a Canada-based company (Tucows). Tucows eventually turned over the domain name to the Alabama authorities upon their request. Thereafter, Novak appealed the decision in the Alabama case successfully and then filed an action against Tucows for illegally depriving him of his property by conversion. Tucows' defense
Bill Becomes Law The following is a matter that relates to the nursing community. It requires legislative attention. There is a research that leads to a proposal on the same. The Situation Shortage in the nursing staffs has been a matter of considerable concern lately. The nursing fraternity is faced with a cash flow problem in the current financial year. It has been noted that future plans that have promised some funding
Figure 1 portrays the state of Maryland, the location for the focus of this DRP. Figure 1: Map of Maryland, the State (Google Maps, 2009) 1.3 Study Structure Organization of the Study The following five chapters constitute the body of Chapter I: Introduction Chapter II: Review of the Literature Chapter III: Methods and Results Chapter IV: Chapter V: Conclusions, Recommendations, and Implications Chapter I: Introduction During Chapter I, the researcher presents this study's focus, as it relates to the
Legal Perspective- New York's leading decisions Judge Hiram Grey in the Court of Appeals of New York adjudged the case of Lawrence v. Fox in the year 1859. The case was about Mr. Holly who lent $300 to Mr. Fox while stating that Holly owed $300 to Mr. Lawrence. Holly lent the money on the condition that Fox would repay it to Lawrence the very next day. What happened, however,