Violations of Law That Are Punishable by the State and That

question 147

Multiple Choice

Violations of law that are punishable by the state and that are codified by legislatures are broadly called which of the following?

• A) Intentional torts
• B) Negligence
• C) Strict-liability torts
• D) Crimes

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Definitions:

Promissory Note

A legal financial obligation that includes a commitment by one party to remit a precise sum of money to another entity, triggered either upon request or on a certain future day.

Commercial Paper

A short-term, unsecured debt instrument issued by corporations to fund immediate needs.

Simple Interest

Interest assessed only on the starting principal, or on the remaining portion of the principal that is due.

Annual Rate

The interest rate for a period of one year, not accounting for compounding within that year.