Phil entered into an agreement with Marina Boats for the purchase of a new sail boat for $$21,000.$ The purchase was to be on credit, subject to a favourable credit report on Phil. Marina Boats checked with Credit Reporting Company, and was informed that Phil had defaulted on a number of debts, and presently had judgments in the amount of $$30,000$ against him. In most jurisdictions, credit reporting legislation requires either the permission of the debtor, or notice to the debtor of an intention to obtain a consumer credit report on the debtor.

Select one:

True

False

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