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According to Robert Merton, What Is the Difference Between Manifest

question 21

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According to Robert Merton, what is the difference between manifest and latent functions?

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Definitions:

Unsecured Creditors

Creditors who have lent money without obtaining specific assets as collateral, thus bearing a higher risk of loss if the debtor defaults.

Secured Creditors

Creditors who have a legal interest in a debtor's property as collateral for a debt, giving them priority over unsecured creditors in claim payments.

Right of Surety

involves the right of a guarantor (surety) to be reimbursed by the principal debtor for any payments the surety made on the debtor's behalf, under a suretyship arrangement.

Co-sureties

Individuals or entities that jointly commit to paying back a debt or fulfilling an obligation if the primary party fails to do so.

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