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What is the probability of pulling a jack from a standard (52-card) deck of playing cards?
Secondary Liability
Secondary liability refers to a legal obligation that arises not from direct involvement in a wrongful act, but from a failure to properly oversee or control the primary party responsible, or from benefiting from the act.
Negotiable Instrument
An official paper that assures the delivery of a particular monetary amount, which can be demanded at any moment or at an agreed-upon time, identifying the person who will make the payment.
Default
The failure to fulfill an obligation, especially the failure to make payments on a loan.
Treasurer
An officer in an organization responsible for managing the organization's financial affairs, including the custody and disbursement of funds.
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