The Factor (Lender) Purchasing Accounts Receivable from Borrower Has Recourse

question 133

True/False

The factor (lender) purchasing accounts receivable from borrower has recourse against the borrower if the accounts receivable cannot be collected.

---

Definitions:

Property Qualifications

Criteria mandating the ownership of a certain amount of property to enjoy specific rights, such as voting or holding public office, historically used to limit the political participation of certain groups.

Voting

The act of expressing a choice or preference in a decision-making process, often seen in democratic societies for electing leaders or making decisions on policies.

Nineteenth Century

A period extending from January 1, 1801, to December 31, 1900, marked by industrial revolution, colonial expansion, and major social reforms.

Right To Vote

The legal entitlement of citizens to participate in the electoral process, determining governmental leadership and influencing legislative decisions.