In Effect, the Forfaiter Functions Both as a Money Market

question 27

True/False

In effect, the forfaiter functions both as a money market firm and a specialist in packaging financial deals involving country risk.

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Definitions:

Merchantability

A legal concept referring to the implicit guarantee that a product is fit for the purposes for which it is sold.

UCC

A wide-ranging series of statutes known as the Uniform Commercial Code is in place to govern commercial activities across the US.

Implied Warranty

A legal assurance in a transaction that the goods or services sold meet certain standards even if not explicitly stated.

Lease

A contractual agreement by which one party conveys property, services, or land to another party for a specified period of time, in return for periodic payments.