​ Credit Card Theft Can Be Proved by Showing the Defendant

question 42

True/False

​ Credit card theft can be proved by showing the defendant was in actual possession of a stolen credit card.

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Definitions:

Principal

The amount of money that is originally invested or loaned, prior to interest or profit.

Primarily Liable

Refers to the party in a financial transaction or contractual agreement who has the direct responsibility to perform or pay.

Instrument

A formal legal document that records a right, duty, or the execution of a transaction, such as contracts, deeds, and promissory notes.

UCC

Short for Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, including sales, leases, negotiable instruments, and secured transactions.