Examlex
Which of the following must be true for an asset to be considered 'liquid'?
Misdemeanors
Less serious criminal offenses that are punishable by fines or imprisonment for less than a year, typically in a county jail.
Act of Commission
A positive action or deed that violates a law or legal obligation, leading to liability.
Act of Omission
Failure to take an action that is legally or morally required, leading to harm or injury.
Criminal Act
An action that constitutes an offense and is punishable by law.
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