The Assumption That the Actions of the Corporation Are Desirable

question 38

Multiple Choice

The assumption that the actions of the corporation are desirable, proper, or appropriate within the limits of the corporation is called _______________.

• A) Power
• B) Legitimacy
• C) Urgency
• D) Reliability

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Definitions:

Oral Negotiable

A verbal agreement that is intended to be binding but may lack the formal requirements of a written contract, particularly in the context of negotiable instruments.

Maker Or Drawer

The individual or entity that creates or signs a promissory note, check, or draft, promising to pay a certain sum.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States intended to harmonize laws across the states.

Quantity Element

An aspect of some agreements emphasizing the specific amount or volume of goods to be provided or actions to be carried out.