The Factoring of Receivables Involves the Specific Use of Receivables

question 31

True/False

The factoring of receivables involves the specific use of receivables as collateral for the loan.

---

Definitions:

Transportation of Dangerous Goods Act

Legislation that governs the handling, transport, and regulation of hazardous materials to ensure public safety and environmental protection.

Hazardous Products Act

Legislation that governs the sale, advertisement, and importation of hazardous products to ensure public safety.

Personal Liability

The legal responsibility of an individual to compensate for harm or damages caused by their actions or negligence.

Common Law Actions

Legal remedies derived from precedents established by court decisions, as opposed to statutes or written laws.