The Thomas Theorem States That Situations That Are Defined as Real

question 121

True/False

The Thomas theorem states that situations that are defined as real become real in their consequences.

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Definitions:

Secondarily Liable

Being indirectly responsible for a debt or obligation, where primary liability falls to another party.

Endorser

One who issues an endorsement.

Instrument

A formal written document effecting legal rights or obligations, such as a contract or financial document.

Dishonored

A term referring to a financial instrument, such as a check, that has been presented for payment but refused by the bank or payer.