A Receiver Is an Individual Appointed by the Shareholders to Hold

question 29

True/False

A receiver is an individual appointed by the shareholders to hold property subject to diverse claims.

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Definitions:

Contract

A legally binding agreement between two or more parties that outlines obligations each party must fulfill.

Liable

Being legally responsible for something, especially in the context of debts or legal wrongs.

Estoppel

A legal principle that prevents a person from denying or asserting anything to the contrary of what has been established as the truth in legal proceedings.

Principal

Principal refers to a main party to a transaction, contract, or financial instrument, as opposed to an agent who acts on someone else's behalf.