Deregulation

question 57

Multiple Choice

Deregulation

• A)is the implementing or phasing in of new regulations.
• B)is the removing or phasing out of some existing regulations.
• C)is any regulation which pertains to accounting debits.
• D)was a trend in the financial system prior to the 1970s, but the trend of the 1970s and 1980s was toward greater regulation.

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Definitions:

Third-Party Beneficiary

An individual or entity that benefits from the terms of a contract, despite not being one of the principal parties involved in the agreement.

Incidental Beneficiary

A third party who unintentionally benefits from a contract made between two other parties, without having any enforceable rights under that contract.

Novation

A legal process where an old debt, obligation, or contract is replaced by a new one, effectively extinguishing the original agreement and substituting it with a new party or terms.

Obligor

An Obligor is the party in a contractual agreement who is bound to provide a specified performance to another party, the obligee.