Which of the Following Are Recommended If You Loan Money

question 61

Multiple Choice

Which of the following are recommended if you loan money to a friend or relative?

• A)Do it in a business-like fashion.
• B)Charge interest if the loan is not to be quickly repaid.
• C)Be sure both parties understand it is a loan, not a gift.
• D)Lend only money you can afford to give away.
• E)All of the above

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Definitions:

Ethics

A branch of philosophy dealing with what is morally right or wrong.

Philosophy

The study of fundamental questions regarding existence, reason, knowledge, values, mind, and language.

Cultural Relativist

A view that moral or ethical systems, which vary from culture to culture, are all equally valid and no one system is really "better" than any other.

Ethical Relativist

Someone who believes that morality is relative to the norms of one's culture, meaning that what is considered moral in one society may be considered immoral in another.