Short-Term Notes Payable

question 56

Multiple Choice

Short-term notes payable:

• A)Cannot replace an account payable.
• B)Can be issued in return for money borrowed from a bank.
• C)Are not negotiable.
• D)Are a conditional promise to pay.
• E)Rarely involve interest charges.

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Definitions:

Stare Decisis

Stare decisis is the legal principle of determining points in litigation according to precedent, where courts follow the rulings of previous cases with similar circumstances.

School of Jurisprudence

A particular philosophy or approach to understanding and interpreting the law and legal systems.

Legal Positivism

A school of thought in philosophy of law which holds that laws are rules made by human beings and that there is no inherent or necessary connection between law and morality.

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The act of damaging someone's good reputation through false statements, either spoken (slander) or written (libel).