Maryland Code, COMMERCIAL LAW 12-510
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, COMMERCIAL LAW 12-510
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
If a buyer inquires in writing about the status of his account and the holder fails to answer the inquiry in clear and definite terms within 60 days after receiving it, the buyer is not required to pay a finance charge for that 60-day period or for any further period during which the holder fails to so answer.