Identify the Following Statement That Is False

question 27

Multiple Choice

Identify the following statement that is false.

• A) The U.S. Constitution grew out of the Anglo-American common law legal tradition.
• B) The U.S. Constitution can be described as a flexible guide to broad rules of procedure, rather than a fixed set of detailed laws.
• C) The original (unamended) U.S. Constitution contained just seven articles.
• D) The U.S. Constitution can be described as an elaborate legal code, common to other foreign countries constitutions, like India.
• E) The U.S. Constitution was approved through a series of compromises.

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Definitions:

Default Risk

The risk of loss arising from a debtor failing to make required payments on their debt obligation.

Cost Of Borrowing

The total expense that a borrower pays to secure and utilize a loan, including interest rates, fees, and other charges.

Revolving Loan

A loan that provides the borrower with the ability to draw down, repay, and re-borrow funds up to a designated amount over a given period.

Prime Interest

The interest rate that commercial banks charge their most creditworthy customers, often used as a reference rate for loans.