Which of the Following Are Recommended If You Loan Money

question 21

Multiple Choice

Which of the following are recommended if you loan money to a friend or relative?

• A) Charge a market rate of interest.
• B) Have a lawyer draft a loan contract.
• C) Put the agreement in writing.
• D) Make the loan due within one year or less.
• E) All of the above

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Definitions:

Trade Secret

Information that is not known to the public, confers a competitive advantage, is subject to reasonable efforts to maintain its secrecy, and is valuable to its holder.

Reasonable Measures

Actions or steps that are considered sensible and proportionate to the situation, taken to achieve a specific purpose or to prevent certain outcomes.

Gray Market Goods

Goods lawfully bearing trademarks or using patented or copyrighted material, but imported into a foreign market without the authorization of the owner of the trademark, patent, or copyright.

Counterfeit Goods

Counterfeit goods are imitation products made with the intent to deceive by passing off as genuine articles, often violating trademark laws.