Private Law Is Comprised of ______

question 15

Multiple Choice

Private law is comprised of ______.

• A) contract, criminal law, and administrative
• B) contract, torts, and property
• C) contract, administrative, and torts
• D) contract, torts, and criminal

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Definitions:

Low-Income Borrowers

Individuals or households with low income levels who may face difficulties in obtaining loans or are considered high risk by lenders.

Legal Interest Rate

The maximum rate of interest that lenders can legally charge borrowers, often set by law or regulation.

Economic Profits

Profits that exceed the opportunity costs of all resources used by a firm, including both explicit and implicit costs.

Accounting Profits

The financial gain calculated by subtracting total explicit costs from total revenue, as recorded in the financial statements.