A Partially Disclosed Principal Is

question 39

Multiple Choice

A partially disclosed principal is:

• A) liable for a simple contract made by an authorized agent.
• B) not liable for a simple contract made by an authorized agent.
• C) solely liable on a simple contract made by an authorized agent.
• D) shielded from any liability, as an authorized agent is solely liable for any simple contracts made on behalf of the partially disclosed principal..

Identify the eligibility requirements for filing under various bankruptcy chapters.

Comprehend the process and implications of automatic stay on creditors' actions following a bankruptcy filing.

Understand the role and responsibilities of a bankruptcy trustee in Chapter 7 proceedings.

Distinguish between secured and unsecured creditors' claims in bankruptcy.

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Definitions:

Accrued Interest

Interest that has been incurred but not yet paid over a specified period, typically relating to bonds or loans.

Bond Interest Rate

The percentage of interest that bond issuers must pay to bondholders, typically expressed as an annual rate.

Semiannually

Occurring twice a year; used to describe the frequency with which certain financial or operational events take place, such as interest payments on bonds.

Equity Method

An accounting technique used to record an investor's proportional share of the net income and losses of an investee company in which the investor has significant influence but not full control.