Which of the Following Statements Is True of Trade Organizations

question 8

Multiple Choice

Which of the following statements is true of trade organizations?

• A) They are required to fund the Chamber of Commerce.
• B) They usually support policies that benefit specific industries.
• C) They are formed with the primary goal of working for the public good.
• D) They primarily represent the people over the age of sixteen who are working.
• E) They are formed with the main purpose of protecting consumer rights.

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Definitions:

Holder

A legal term for an individual or entity that possesses a negotiable instrument, like a check or promissory note, and has the right to enforce it.

Instrument

A legal document that formally documents a legal or financial transaction or agreement.

Shelter Rule

A legal principle that protects buyers in good faith of personal property under the Uniform Commercial Code from subsequent claims of ownership.

Common Law

A legal system based on court decisions and customs, as opposed to written laws.