Tommy Thompson Has a Small Mail Order Business

question 83

Multiple Choice

Tommy Thompson has a small mail order business. He wants to borrow $10,000 from his friend Ziggy Harris. Tommy says that he will give Ziggy the right to collect on accounts customers owe him. What is the arrangement called?

• A)a chattel mortgage
• B)a debenture
• C)an assignment of accounts receivable
• D)a general security agreement
• E)a floating charge

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Definitions:

Categorical Syllogism

A categorical syllogism is a type of deductive argument consisting of three categorical propositions that involve a set of three terms, leading to a conclusion based on logical relationships.

Venn Diagram

A diagram that uses circles to represent the relationships among various sets or groups of objects.

Syllogism Validity

A measure of whether a deductive argument is logically sound, where the conclusion necessarily follows from the premises.

Venn Diagram

A visual diagram that illustrates the logical relationships among several distinct groups within a limited set.