A Large and Well-Known Corporation Wants to Acquire a Plot

question 16

Multiple Choice

A large and well-known corporation wants to acquire a plot of ground for a new plant.To avoid the extra cost,purchases the land through several agents,each purporting to be buying personally.In such cases,the corporation is a(n) ______.

• A)undisclosed principal
• B)disclosed principal
• C)partially disclosed principal
• D)subagent

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Definitions:

Commencement

The act or moment when something begins or is initiated.

Bankruptcy Proceeding

A court procedure that allows people or entities that cannot pay their debts to get partial or total debt relief.

Discharged

The status of a debt having been paid or otherwise settled, or the termination of a legal duty or obligation.

Chapter 13

A part of U.S. bankruptcy law that allows individuals to undergo a financial reorganization supervised by the court.