A License Is Irrevocable If

question 14

Multiple Choice

A license is irrevocable if:

• A)the licensee exercised the license by expending capital and labor in reliance on the licensor's promise.
• B)the license is coupled with an interest.
• C)a statute specifies that the license is irrevocable.
• D)all of the above.
• E)two of the above.

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Definitions:

Effective Interest Rate

The real cost of borrowing, reflecting the total amount of interest paid over the term of a loan, including the effect of compounding.

Monthly Payment

An amount that is paid every month, typically in the context of loan repayments or rent.

Annual Subscription

A payment or fee paid once a year for membership or access to a service or product.

Registered Retirement Income Fund

A type of retirement plan under Canadian law that provides individuals with a method to receive income from the assets within their Registered Retirement Savings Plan (RRSP) in retirement.