A Right Is Defined As

question 46

Multiple Choice

A right is defined as:

• A) an obligation of law imposed to perform an act.
• B) a legal capacity to require another party to perform an action.
• C) any written promise.
• D) none of the above.

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Definitions:

Lost Profits

Refers to the potential earnings a business was unable to realize due to wrongful actions by another party.

Insolvent

A financial state where an individual or entity cannot meet their debts as they become due.

Down Payment

An initial upfront portion of the total amount due, typically in the context of purchasing expensive goods like cars or real estate, representing a fraction of the full price to reduce the loan amount.

Misrepresenting Solvency

Falsely presenting a company's or individual's financial stability or ability to pay debts, often to secure loans or delay bankruptcy.