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A Creditor Is Any Person Who Has an Ownership Interest

question 93

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A creditor is any person who has an ownership interest in a business.


Definitions:

Illegal Contract

An agreement that is either unlawful in nature or made with the purpose of undertaking an illegal act, and thus, is not enforceable by law.

Executory

Pertaining to contracts or agreements that are not yet fully performed or completed by all involved parties.

Enforce

To compel observance of or obedience to a law, rule, or obligation.

Minor

An individual under the age of majority, legally considered not yet fully capable of taking on certain responsibilities and rights.

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