Countries with Hereditary and Seniority-Based Societies Have Much Movement Up

question 48

True/False

Countries with hereditary and seniority-based societies have much movement up and down social class hierarchies

---

Definitions:

Debt

Debt is an amount of money borrowed by one party from another, typically with the arrangement that it will be paid back, often with interest.

De Jure Corporation

A corporation that has fully complied with all legal requirements for incorporation and therefore enjoys all the powers and rights granted to corporations under the law.

De Facto Corporation

A company that operates as if it were legally incorporated, even though it has not completed the necessary legal formalities and documentation.

Corporation By Estoppel

Corporation by estoppel is a legal doctrine preventing someone from denying a business's corporate status when they have treated it as a corporation in previous transactions.