A Defense That Can Only Be Asserted by the Principal

question 24

Multiple Choice

A defense that can only be asserted by the principal debtor is called a:

• A) real defense.
• B) joint defense.
• C) personal defense.
• D) subrogated defense.

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Definitions:

Merchants

Individuals or businesses engaged in the commercial trade of goods, services, or commodities.

Standardized Form

Documents or procedures that have been uniformed across a setting or industry to ensure consistency and efficiency.

Proposals

Detailed plans or suggestions put forward for consideration or discussion, especially in a professional or business context.

Knock-Out Rule

A legal principle used in international trade disputes, where conflicting terms in a contract cancel each other out.