Excel Products Company Files a Suit Against Flying Distribution,Inc

question 4

Multiple Choice

Excel Products Company files a suit against Flying Distribution,Inc.,over a contract.Before the trial,Excel can obtain from Flying

• A)all documents in Flying's possession relating to the contract.
• B)any documents in Flying's possession.
• C)no documents in Flying's possession.
• D)only those documents that Flying agrees to release.

---

Definitions:

Corporations

Legal entities that are separate and distinct from their owners, who are shareholders, and have rights to enter into contracts, own assets, and be liable for debts.

Loans

Financial transactions where one party lends money to another with the expectation that it will be repaid, usually with interest, over a specified period.

Usurious Rate

An interest rate charged on a loan that exceeds the legal limit set by law.

Principal

The main party to a transaction or contract, responsible for its fulfilment.