Payment Can Be Obtained from a Guarantor Even If the Principal

question 30

True/False

Payment can be obtained from a guarantor even if the principal debtor has not defaulted.

Distinguish between the intent required for torts and the intent required for crimes.

Examine the legal defenses available in tort cases involving statements made under oath.

Understand the legal definition and implications of trespass.

Recognize trends in defamation lawsuits, particularly in the context of employment.

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Definitions:

MBCA

Model Business Corporation Act, a template for state corporation statutes that provides legal guidelines for corporate governance and operations.

Articles of Incorporation

Legal documents filed with the state government to legally establish a corporation.

Proper Consideration

The requirement in contract law that something of value must be exchanged between the parties to form a valid contract.

Incorporeal Property

Refers to intangible assets owned by an individual or corporation, such as intellectual property, securities, and rights to financial accounts.