Since a Board of Advisors Is Designed to Dispense Advice

question 8

True/False

Since a board of advisors is designed to dispense advice rather than make decisions,its liability is limited.

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Definitions:

Execution

Execution refers to the carrying out of a plan, order, or course of action to its completion.

Levy

The obtaining of money by legal process through the seizure and sale of property, usually done after a writ of execution has been issued.

Buyer in Ordinary Course

A person who purchases goods in good faith from a seller who is in the business of selling such goods, without aware of any claims against the goods.

Trustee in Bankruptcy

An appointed individual responsible for managing the estate of a bankrupt person, to distribute the assets among creditors.