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_____ Describes Laws Specifying the Rights and Duties of Individuals

question 37

Multiple Choice

_____ describes laws specifying the rights and duties of individuals in their business dealings, how businesses are created and organized, and how business is transacted.


Definitions:

Lessee

An individual or entity that leases or rents an asset from its owner, known as the lessor.

Captive Finance Company

Wholly owned subsidiary that handles credit extension and receivables financing through commercial paper.

Wholly Owned Subsidiary

A company whose entire stock is held by another company, making it completely controlled by the parent company.

Manufacturer

A type of business or company that produces finished goods from raw materials in large quantities for sale.

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