A Corporation Cannot Default on Debt That Is Funded

question 76

True/False

A corporation cannot default on debt that is funded.

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Definitions:

Misrepresentation

A false statement of fact made by one party to another, which may render a contract voidable.

Easement

A non-possessory right to use and/or enter onto the real property of another without owning it, often for a specific purpose like utilities or access.

Non Est Factum

A legal defense claiming a contract is invalid due to a serious misunderstanding or mistake about its nature or terms.

Negotiable Instruments

Financial documents that guarantee the payment of a specific amount of money, either on demand or at a set time, with the payee able to transfer it to another holder.