A businessperson from the United States was introduced to the ...

[SAVANNAHHOOPER23]

A businessperson from the United States was introduced to the president of a company in another country, and the businessperson immediately began treating the president as his equal. The president might be particularly offended if he is from which country?
 A) Japan
  B) United States
  C) Canada
  D) All of these choices

Question 2

Describe the legal implications involved in denying credit.

[Harbringer]

Answer to Question 1

A

Answer to Question 2

Because of the legal implications involved in denying credit, legal counsel should review your credit denial messages to ensure that they comply with laws related to fair credit practices. The Equal Credit Opportunity Act (ECOA) requires that a credit applicant be notified of the credit decision within 30 calendar days following application. Applicants who are denied credit must be informed of the reasons for the refusal. If the decision was based on information obtained from a consumer reporting agency (as opposed to financial statements or other information provided by the applicant), the credit denial must include the name, address, and telephone number of the agency. It must also remind applicants that the Fair Credit Reporting Act provides them the right to know the nature of the information in their credit file. In addition, credit denials must include a standard statement that the ECOA prohibits creditors from discriminating against credit applicants on the basis of a number of protected characteristics, such as race, color, religion, national origin, sex, marital status, and age.
To avoid litigation, some companies choose to omit the explanation from the credit denial letter and invite the applicant to call or come in to discuss the reasons. Alternately, they might suggest that the audience obtain further information from the credit reporting agency whose name, address, and telephone number are provided.