The Difference Between the Amount Received from Issuing a Note

question 114

Multiple Choice

The difference between the amount received from issuing a note payable and the amount repaid is referred to as:

• A)Interest
• B)Principle
• C)Face value
• D)Cash
• E)Accounts payable

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Definitions:

M'Naghten Rule

A legal standard used to determine whether a defendant was insane at the time they committed a crime, focusing on whether they understood the nature of their act or knew right from wrong.

Irresistible Impulse Test

A legal test for insanity that holds people to be insane at the time they committed a crime if they were driven to do so by an uncontrollable “fit of passion.”

Durham Test

A legal test for insanity that holds people to be insane at the time they committed a crime if their act was the result of a mental disorder or defect.

American Law Institute Test

A legal test for insanity that holds people to be insane at the time of committing a crime if, because of a mental disorder, they did not know right from wrong or could not resist an uncontrollable impulse to act.