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Flight Craft Corporation Sends Its Agent Gavin to a Sales

question 20

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Flight Craft Corporation sends its agent Gavin to a sales convention hosted by Holiday Travel to showcase Flight's new passenger jet. Gavin, who is authorized to make statements about the aircraft, makes false claims about its capability. Liability for injuries or damage to third parties who rely on the false claims extends to


Definitions:

Estimable

Capable of being estimated or appraised, often used in finance and accounting to describe assets or liabilities that can be accurately assessed.

Installment Note

A debt instrument that requires regular payments, or installments, of principal and interest over a specified period.

Fiscal Year

A one-year period used for financial reporting and budgeting, which does not necessarily coincide with the calendar year.

Principal Repayment

The portion of a loan payment that goes toward reducing the amount borrowed, not including interest.

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