Examlex
Based on the decision in SOCAN v Canadian Association of Internet Providers, which of the following statements is TRUE?
Explicit Interest
The stated interest rate on a loan or financial instrument, not including the effects of compounding or any hidden charges.
Factoring
Financing method where a firm sells its accounts receivables, usually to a specialized financing company, at a discount to their full value.
Receivables
Payments due from clients to a business for the delivery of goods or services that have not yet been compensated.
Collateral
An asset or property that a borrower offers to a lender as security for a loan, which the lender can seize if the borrower fails to make required payments.
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