Which of the Following Parties Would a Lawyer Most Likely

question 59

Multiple Choice

Which of the following parties would a lawyer most likely indicate to be subject to claims arising from the original contract of sale?

• A) an assignee of non-commercial debt
• B) a holder in due course
• C) a holder of a consumer note
• D) a holder of a negotiable instrument

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Definitions:

Net Sales

Net sales are the total revenue from goods and services sold by a company, after deducting returns, allowances for damaged or missing goods, and discounts.

Accounts Receivable

Money owed to a business by its clients (customers) for goods or services that have been delivered but not yet paid for.

Net Income

The total earnings of a company after subtracting all expenses, including taxes, from its total revenues.

Cash Flow

The total amount of money being transferred into and out of a business, especially concerning liquidity.