If an Abandoned Shipwreck Is Found Outside the Boundaries of a State,what

question 17

Multiple Choice

If an abandoned shipwreck is found outside the boundaries of a state,what law applies?

• A)Only the Abandoned Shipwreck Act
• B)Only the law of finds
• C)Only the law of salvage
• D)Either the law of finds or the law of salvage

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Definitions:

Interest

Payment made for the use of borrowed money, calculated as a percentage of the principal sum.

Simple Interest

Interest calculated only on the initial amount of money (principal), not on the interest accrued over time.

Investment

Allocation of resources, such as time, money, or effort, in hope of generating a future benefit or return.

Interest Rate

The interest percentage applied on the sum of money borrowed by an individual from a financial lender.