Which of the Following Is NOT a Part of the Rules

question 38

Multiple Choice

Which of the following is NOT a part of the rules that govern behavior in most nations:

• A) ethics
• B) formal rules
• C) social customs
• D) administrative rules
• E) all of the other choices are parts of the rules

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Definitions:

Warranty Liability

The legal obligation of a seller to ensure that the goods or services sold meet certain expressed or implied standards of quality and reliability.

Secondarily Liable

Liability that is not primary but comes into effect when the party with primary liability has failed to fulfill an obligation.

Indorsers

Individuals who endorse or sign their name on the back of a document or cheque, thus transferring responsibility or ownership to another party.

Drawers

In banking and finance, individuals or entities that write and issue a check or draft instructing a bank to pay a specific amount from the drawer's account.