Under the Home Ownership and Equity Protection Act, if a creditor ...

[bio_gurl]

Under the Home Ownership and Equity Protection Act, if a creditor does not give the debtor notice of the three-day cooling off period the debtor's right of recission:
 A) doubles in duration.
 B) triples in duration.
 C) extends to three years.
 D) extends to three months.

Question 2

Jane and June work as legislative assistants in the Arizona legislature. Both are also talented paper hangers and have begun taking wallpapering jobs at night and on weekends to earn extra money. The customers supply the wallpaper while Jane purchases the necessary supplies and equipment. The cost of supplies for each job is deducted from the fee and June and Jane split the remaining money. They each pay income tax on their respective shares. Do Jane and June have a partnership?

[lkoler]

Answer to Question 1

C

Answer to Question 2

Yes; prima facie evidence is the sharing of profits. They are voluntarily in business as co-owners and are working for profits. It doesn't matter what they do for their day jobs or even if they have another job.

[bio_gurl]

Thanks for the timely response, appreciate it

[billybob123]

TYSM