Requirements That Must Be Met Under the Loan Agreement Before

question 12

Multiple Choice

Requirements that must be met under the loan agreement before the lender's obligations arise are known as:

• A) conditions precedent.
• B) conditions concurrent.
• C) conditions subsequent.
• D) loan qualifiers.

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Definitions:

Falciform Ligament

A ligament that attaches the liver to the front wall of the abdomen and the diaphragm, separating the liver's left and right lobes.

Pancreatic Duct

A conduit through which digestive enzymes from the pancreas are delivered to the small intestine.

Common Hepatic Duct

A duct formed by the convergence of the right and left hepatic ducts that transport bile from the liver to the gallbladder and duodenum.

Cystic Duct

A small duct that connects the gallbladder to the common bile duct, allowing bile to flow into and out of the gallbladder.