Examlex
It is a criminal offence for a lender to charge an interest rate in excess of 50 percent.
Chief Executive Officer
The highest-ranking executive in a company, responsible for making major corporate decisions, managing the overall operations and resources of a company, and acting as the main point of communication between the board of directors and corporate operations.
Sole Proprietorship
A business owned and operated by one person, where there is no legal distinction between the owner and the business entity.
Unlimited Life
Refers to corporations having a perpetual existence, not limited by time, allowing them to continue operations indefinitely unless dissolved.
Agency Problem
A conflict of interest arising between principals (owners/shareholders) and agents (company executives/managers), where the agent may make decisions that benefit themselves at the expense of the principals.
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