newconnect n education.com/flo /connect.html? sRege true return http s%3A%2F%2Fc

Question

newconnect n education.com/flo /connect.html? sRege true return http s%3A%2F%2Fconnect.m educa on con e Fpaa n ebS Findex t %2362 re s at one s 45 and 46 6 Saved Help Save & Exit Jack found out that his American Express credit card got stolen. He immediately called the company and informedt about the loss. However, the thief had made unauthorized purchases worth $250 by then on Jack's account. Per the Truth in Lending Act, Multiple Choicè Jack's liability for those charges cannot exceed $50 Jack's liability will be worth 50 percent of the unauthorized purchases made through his card the company cannot be held liable for any of the charges

Explanation / Answer

According to Truth In Lendig Act if any credit card is lost and unauthorized purchases is made then after reporting you can be liable upto $50 of the unothorized purchases.So here jeck is liable for $50 of the unauthorized purchasees to the company. Remaining amount will be borne by Jeck himself.

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