A Certificate of Indebtedness That Specifies the Obligations of the Borrower

question 120

Multiple Choice

A certificate of indebtedness that specifies the obligations of the borrower to the holder is called a

• A)bond.
• B)stock.
• C)mutual fund.
• D)All of the above are correct.

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Definitions:

Erroneous Statement

A declaration or assertion that is incorrect or mistaken in fact.

Consideration

Something of value given by all parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Fraudulent Misrepresentation

False statements made intentionally to deceive, typically leading to harm or loss, and which may be grounds for legal action.

Rescinded

To revoke, cancel, or repeal a law, order, or agreement.