Examlex
Which of these is the responsibility of the board of directors?
i. Recommending dividends
ii. Collecting bad debts
iii. Preparing the company tax return
iv. Preparing the budget
Binder
An oral or a written memorandum of an agreement for insurance intended to provide temporary insurance coverage until the policy is formally accepted.
Insurance Coverage
The protection provided by an insurance policy against financial loss or damage, specifying what types of loss are compensated.
Adhesion Contract
A contract drawn by one party that must be accepted on a take-it-or-leave-it basis.
Warranty
A promise, typically by a manufacturer or seller, regarding the condition or performance of a product.
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