Pledges of Accounts Receivable and Factoring of Accounts Receivable Are

question 94

Multiple Choice

Pledges of accounts receivable and factoring of accounts receivable are made on ________ basis, respectively.

• A) a nonrecourse and a notification
• B) a nonnotification and a notification
• C) a notification and a recourse
• D) a notification and a nonrecourse

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Definitions:

Apparent Authority

A type of authority perceived by a third party that an agent seems to have in relation to the principal, regardless of whether such authority has been actually granted.

Principal

The primary party to a transaction, agreement, or contract, or the amount of money on which interest is paid or received.

Manifestations

Expressions or signs that something, especially a disease or a condition, is present.

Third Party

An individual or group besides the two primarily involved in a situation or transaction, often providing additional services or acting as an intermediary.