Effective Entrepreneurs Think of the Process of Obtaining a Loan

question 34

True/False

Effective entrepreneurs think of the process of obtaining a loan as a sales job.

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Definitions:

Moral Obligation

A duty or commitment that is not legally enforceable but is based on ethical or moral considerations.

Preexisting Duty Rule

A legal principle that an existing obligation or duty cannot serve as consideration for a new contract.

Rescission

The act of canceling a contract, returning both parties to their pre-contractual situation.

Mutually Agree

A situation in which two or more parties come to a common understanding or consent on a matter.