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Sam received his monthly credit card statement. He was shocked to find a debit transaction of $2,799 for a smart watch that he hadn’t purchased. He noticed that the fraudulent transaction had been made just a couple of days ago. He was aware that the card had been missing for a several months, but he had forgotten to inform the credit card company about the lost card. What’s the maximum amount sam will have to pay for this fraudulent transaction?

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Answer:

The entire amount

Step-by-step explanation:

Sam will have to incur the amount of the transaction performed, this is because the transaction occurred using his credit card and he also attested to the fact that the card was missing for several month. After losing his credit card, Sam should have informed the credit card company about the development so that necessary steps could be taken, which he failed to do. For these, reason, Sam will have to bear the loss and pay the credit card company the entire sum.

Answer:

Fair credit billing act and the full amount is correct on plato.

Step-by-step explanation:

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