Prospective Entrepreneurs Will Usually Acquire Their Initial Financing from

question 59

Multiple Choice

Prospective entrepreneurs will usually acquire their initial financing from

• A) venture capitalists.
• B) personal savings.
• C) wealthy individuals.
• D) the securities market.

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Definitions:

Workmanlike Manner

The expectation that services or work performed will meet the standards set by skilled individuals in that trade or industry.

Satisfaction

in legal terms means the fulfillment or discharge of an obligation, such as the repayment of a debt, resulting in the termination of the obligation.

Condition Precedent

A condition in a contract that must be met before a party's obligation becomes enforceable.

Condition Subsequent

A legal term referring to an event or state of affairs that, if it occurs, will terminate a party's rights under a contract.