Simtech Inc Needs $1 Million for Research Related to a New

question 19

True/False

Simtech Inc needs $1 million for research related to a new product it is developing.It has been discussing a loan with Toronto Bank.On January 10, the Bank files a financing statement to register a security interest in all the assets of Simtech.On January 12, Simtech borrows $20 000 from one of its shareholders, secured by a security interest in all the assets of the corporation.The shareholder files a financing statement to register its security interest on the same day.On January 15, the bank and Simtech agree that the bank will lend Simtech $1 million and Simtech agrees to give the bank a security interest in all of its assets.If Simtech defaulted on the loans to both the shareholder and the bank, the shareholder's security interest would have first priority because the shareholder advanced its money first, before the bank advanced money.

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Definitions:

Leadership Styles

refer to the various approaches and methods leaders use to inspire, direct, and manage teams and organizations to achieve their goals.

Leader-member Relations

The dynamic and quality of the interaction between leaders and their team members, impacting performance and workplace climate.

Power To Reward

The authority to give benefits or rewards to others, often used as a tool in motivational strategies.

Punish Subordinates

Refers to disciplinary actions taken against employees or team members who violate rules or fail to meet established standards.