Please read question below and answer or discuss. Minimum 230 words
Question: Paul Stieger gave his Chevy Chase Bank credit card to a Ms. Garrett during a business trip. He told her to use the card only for a car rental and for hotel lodging. After Stieger returned from the trip, he found that Garrett had used his card for 15 charges other than car rental and hotel lodging. For 13 of the charges, Garrett signed Stieger's name; for the other two, she signed her own name. Is Stieger liable for the 15 charges?
The main issue with this case is the Truth in Lending Act. This act was established in 1968, and serves to protect both consumers and creditors. As part of this act, the consumer is only responsible for the first $50 of charges when fraud is involved. This was designed to protect the credit worthiness of consumers who are victims of credit card fraud. This law has been pushed to the front line in recent years, due ...
This solution discusses the legal case of Paul Stieger and his Chevy Chase Bank card. All pertinent legal elements are thoroughly discussed.