If a loan has been made to a related party, what are some considerations for determining whether the loan is a bona fide debt or is, in fact, merely a gift?
What will be an ideal response?
Consider whether there is a written instrument to indicate evidence of an obligation to repay. Is there a definite schedule of repayment? Consider whether a reasonable rate of interest has been imposed. Also, determine whether an unrelated party would make a similar loan.
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Answer the following statement true (T) or false (F)
Uninvited third parties are often welcomed and effective by both sides of a disagreement.
Answer the following statement true (T) or false (F)
What is the point of sending "for-your-information" messages, if they are not related to business information?
What will be an ideal response?
An instrument containing a qualified indorsement can be further negotiated
Indicate whether the statement is true or false