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d) Transfer funds from the Trust Account to the General Account prior to billing the client. 4. Betty needed to borrow some money to pay
d) Transfer funds from the Trust Account to the General Account prior to billing the client. 4. Betty needed to borrow some money to pay for her LSUC Exam so she went into Larry Loans and took out a loan for $1500.00. The loan agreement stated that the terms were that the loan must be paid back within 30 days and that the interest rate was 49%. 28 days later Betty returned to re-pay the loan and only then was told of a surcharge of $1000.00 to cover administrative fees: a) Betty must pay the surcharge because she signed the loan agreement. b) Betty has the right to cancel the contract because the surcharge was not disclosed. c) Betty has the right to cancel the contract because the interest is illegal. d) Betty does not have to pay anything back at all.7. A Possessory Lien under the Repair and Storage Liens Act: a) Does not have priority over a PPSA. b) Does not allow the repairer to retain the item until the repair is paid. c) Allows the storer to retain the item until the storage is paid. d) Is an unsecured debt
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