Assume That a Society Is Comfortable with Ambiguity and the People

question 25

Multiple Choice

Assume that a society is comfortable with ambiguity and the people are adaptable and entrepreneurial.Truth may be relative,though in the immediate social circles there is concern for Truth with a capital T,and rules (but not necessarily laws) abound.Nonetheless,adherence to laws and rules may be flexible to suit the situation and pragmatism is a fact of life.This description shows that this society has a:

• A) Weak Uncertainty Avoidance society
• B) Strong Uncertainty Avoidance society
• C) Large Power Distance society
• D) Small Power Distance Society

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Definitions:

Consumer Paper

Consumer paper consists of financial documents and instruments that reflect personal indebtedness, such as loans, mortgages, and credit agreements.

Holder in Due Course

A party that holds a negotiable instrument and has certain rights to payment not subject to defenses.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee named on the document.

Holder in Due Course

An individual in possession of a negotiable instrument, obtained in good faith and for value, and thereby has specific rights to enforce the instrument.