________ Is an Expression Indicating That the Legal Fiction That

question 33

Multiple Choice

________ is an expression indicating that the legal fiction that a company is a separate legal entity will be set aside and the shareholders of the company will be held liable for its conduct as if they were partners in a partnership.

• A) Fruit of the poisonous tree
• B) Pierce the company veil
• C) Ball park figure
• D) Right of first refusal

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Definitions:

Grace Period

A set period of time after the due date during which payment can be made without penalty.

Interest Charge

The amount charged by a lender to a borrower for the use of borrowed money, typically expressed as an annual percentage of the principal.

Dishonor Of Note Receivable

Occurs when a promissory note's maker fails to make the scheduled payment to the note's holder when due.

Accounts Receivable

Amounts of money owed to a company by its customers for goods or services that have been delivered but not yet paid for.