Goldhar&Nemoy, a law firm, leases a fax machine from QED Business Machines. The principal is $5,000 and the interest over the five-year term of the lease is $1,000, so that G & M's monthly payment are $100 for 60 months
The lease provides that if any payment is missed, the entire balance of the lease becomes due, and QED may repossess the machine.
G & M makes the first 12 payments, then defaults. QED repossesses the machine and immediately re-leases it to another company on the same terms. It sues G&M for $4,800. Which of the following statements is TRUE?
A) This lease contains an acceleration clause which permits QED to sue for the full balance owing after a default?
B) G&M may be able to defend on the basis that the acceleration clause is a penalty.
C) If the acceleration clause is struck down, QED's damages will be limited to the expenses of repossessing and re-leasing the machine.
D) All of the above are true.
E) None of the above are true.
D
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A(n) ________ coalition is one that is currently active, and in place-there are two common forms of this type of coalition.
Fill in the blank(s) with the appropriate word(s).
Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups
For the purpose of her study, she divided 20 volunteers into two groups and asked the members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She decided to compare the responses of the volunteers after a week to gain deeper insights into consumer attitude. In this instance, Juanita is using ________. A) niche marketing B) experimental research C) product differentiation D) ethnographic research E) viral marketing
A guarantor can assert the principal debtor's bankruptcy as a defense to avoid liability on the obligation.
Answer the following statement true (T) or false (F)
Which of the following is not a feature of a 529 Plan?
A) Withdrawals for nonqualified expenses are prohibited. B) The contributor owns the account. C) The account owner can change the beneficiary. D) The account owner determines the investment strategy.