Examlex
Listed below are several terms and phrases associated with long-term debt. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it.
-Subordinated debenture
Illusory Promise
A statement that appears to be a promise but does not actually bind the party to any commitment or obligation.
Promissory Estoppel
A legal principle that prevents a party from going back on a promise, even if the promise was not formally agreed upon, if the other party has relied on that promise to their detriment.
Adequate Consideration
Sufficient value or compensation exchanged between parties in a contract, making the agreement legally binding.
Detriment
A state of being harmed or damaged, often used in legal contexts to describe loss or injury.
Q16: Which of the following situations would not
Q37: On June 1, 2018, Dirty Harry Co.
Q40: On February 1, 2017, Pat Weaver Inc.
Q119: Revenue for gift card breakage should be
Q131: Sometimes a temporary difference will produce future
Q136: Bonds were issued at a discount. In
Q141: If Dinsburry Company concluded that an investment
Q149: On January 1, 2018, for $18 million,
Q191: Debt to equity ratio<br>A)May become stock.<br>B)Measures default
Q251: Markel Inc. has bonds outstanding during a