Question

Stan james carelessly left his wallet in the restroom of a gas station while on a business trip. he did not realize his wallet was gone until eight hours later when he went to check into his hotel. stan called the credit card companies immediately, only to learn that the thief had charged $2000 on his american express card, $450 on his mastercard, and $75 on his gas credit card. stan james' maximum liability on the cards is:
a. $0.
b. $50 per card.
c. $50.
d. none of the above

Answer 1

D none of the above. how would it be possible to only have $50

Answer 2

The maximum liability, which will be owed by Stan James for his stolen credit cards, will be $50 per card. Hence, option B is correct.

What is a liability?

Liability can be defined as the responsibility of a person to repay the losses in case of happenings of any event. It may or may not be more than the amount or share actually contributed by a person.

Usually, the liability of a person in case of a stolen card is not charged more than $50 by the credit card issuer company to the customer if reporting of unauthorized charges is made to the company well within the due time. Thus, in case of Stan James, liability per card will be $50.

Hence, option B holds true regarding a liability.

Learn more about a liability here:

https://brainly.com/question/15006644

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