BA621-L10A7 - February 1, 2010 May 21, 2010 BA621 Business...

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Unformatted text preview: February 1, 2010 May 21, 2010 BA621 Business Law Lesson #10 Assignment #7 Case 24-3 Summary: Purtle v. Eldridge Auto Sales, Inc. In this case (page 763 of your text), the court rules that a consumer was allowed to seek the statutory penalty allowed under the TILA (Truth-In-Lending Act) when an auto sales company violated the TILA, even though the plaintiff had engaged in fraud to obtain the loan in question. Answer the following questions (found on page 764 of your text) to consider the need for legislation affecting debtor-creditor relationships. 1) What reasons might a legislator provide to support TILA? Clue: Reread the section prior to the case about the goals of TILA. TILA prevents shifty creditors from duping debtors/voters and so legislators would logically want to even the playing field between creditors and debtors. I doubt that there would be a big lobby for these creditors, as their platform would be especially skeezy, so there is no real monetary reason for the typical...
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