Examlex
Discuss the free rider problem and how this issue shapes membership in organizations. How is this problem overcome?
Impostor Rule
A legal principle that holds a person pretending to be someone else liable for the deception if it results in harm or loss.
Negotiable Instrument
A written agreement promising to pay a designated sum of money, either upon request or at a fixed future date, with the obligor's name mentioned on the document.
Indorsement in Trust
A specification on a negotiable instrument where the indorsement indicates that the endorsee has trustee status, making them responsible for managing the instrument according to trust terms.
Bearer Instrument
A negotiable financial instrument that designates payment to whoever holds the instrument, not requiring ownership to be registered with the issuer.
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