True or False: A situation exists that requires the customer to be re-contracted and sign a new Retail Installment Sale Agreement five days after consummating the deal.

The assertion that a customer must be re-contracted and sign a new Retail Installment Sale Agreement five days after consummating the deal is inaccurate, which is why the answer is false. In typical retail installment contracts, there are established regulations and contractual norms regarding the procedures for financing and the transfer of ownership once a transaction is completed.

Once the agreement is consummated, usually, the terms of that initial contract stand unless there are specific legal or regulatory requirements necessitating a new agreement—such as changes to the credit profile of the customer or significant alterations to the loan's terms that must comply with new regulations. If there were a reason to re-contract, it would typically involve clear legal reasons or conditions specified within the contract itself, not just a time frame like five days after the deal has closed.

This understanding emphasizes the importance of knowing the specific terms of agreements and the conditions under which they can be altered or amended, rather than accepting that a re-signing is standard practice shortly after the fact.