Tita and his boyfriend Sandro Battuta were looking for new furniture on March 15 2020. They found a beautiful white sofa at a famed furniture shop, Altisimmo. Its price: $10,000. Sandro loved it right away. Tita was less enthusiastic. The price was high. Sandro persuaded her by insisting that he could enter into a consumer credit contract. On March 17 2020, Sandro went to his bank, RBC, with Tita who is also an RBC customer. Christian, a customer service representative who was on his first day, orally explained the general details of the contract to Sandro. Sandro signed the contract. The annual interest rate was 25%. Five days later, on March 20, Tita received an envelope from RBC in her mailbox with a letter addressed to her She was surprised to find a copy of the terms of a consumer credit contract for $10,000 enclosed. She was not interested, so she did not pay attention to the document: it was Sandros contract. The country entered into a lockdown on March 23 due to Covid-19 and on April 10 banks lowered their interest rates. Tita found on the internet that Scotiabanks annual rate for consumer credit

contracts was 20%. She was disappointed and told Sandro about their bad luck. She also showed him the mail she had got from RBC. Sandro is sure he does not need to worry about RBC and that he can take advantage of Scotiabanks better interest rate. Explain why, based on the Credit Contracts and Consumer Finance Act.