When borrowing money to be repaid in regular future payments, the payment is based on the present value of the loan, the interest rate and the length of the loan
a. True
b. False
Indicate whether the statement is true or false
True
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The "fiduciary relationship" differentiates professionals from other skilled practitioners. Which one of the following best represents the nature of a fiduciary relationship?
A. Society extends certain privileges to professionals because of the value and trust they also receive from society. B. Clients actually pay the practitioner directly, with no middle person involved. C. Professionals hold you and your possessions in trust, and are obliged to act in your best interest.
What do you think were the key issues for Pilkington to consider before it decided to licence its float technology to other glass makers?
What will be an ideal response?
Usury statutes set minimum rates of interest that can be charged for different types of transactions
Indicate whether the statement is true or false
Susan is planning to incorporate a new landscaping company, "Evergreen and Growin'." She has held herself out as an agent for Evergreen and has contracted to buy a truck, tools, fertilizer, and seed and also has entered into a lease on behalf of Evergreen for an office. When she fails to get the loan from the bank, she cannot start the business, so she cancels all the contracts. What are the
consequences? A) Susan can cancel all the contracts with no personal liability if she told them she was acting as an agent and expressly warranted that she would not be responsible. B) Susan may be held personally liable on the contracts because she misrepresented to third parties that she had authority to make contracts on behalf of a non-existent corporation. C) Since the company never existed, she gave no implied warranty. D) Susan will be held liable for the contracts only if she ever gets the loan.