Asked by Yesenia Zacharkiw on Jul 21, 2024
Verified
The case in the text,Kruser v.Bank of America NT & SA,reinforces the principal that:
A) courts are sympathetic to consumers and consumers are entitled to time extensions.
B) the EFTA was enacted to protect the consumer and will protect against all instances of fraud.
C) the EFTA requires a customer to provide timely notification of any unauthorized use of a credit card to limit his liability.
D) the consumer is responsible for any loss that occurred from his negligence.
EFTA
The European Free Trade Association, an intergovernmental organization promoting free trade and economic integration to the benefit of its four European member states.
Unauthorized Use
The improper or illegal use of something without permission or beyond the scope granted by its owner or governing rules.
- Recognize the limitations of liability banks may have under various laws and the conditions under which they operate.
Verified Answer
JL
Joseph LodovichettiJul 25, 2024
Final Answer :
C
Explanation :
This case illustrates the application of the EFTA's provisions that require a customer to provide timely notification of any unauthorized use of his card in order to limit his liability for the unauthorized use of the card.
Learning Objectives
- Recognize the limitations of liability banks may have under various laws and the conditions under which they operate.