A Promoter

question 16

Multiple Choice

A promoter:

• A)may have liability on the contracts he negotiates on behalf of the prospective corporation.
• B)does not hold any liability to third parties on preincorporation contracts.
• C)automatically becomes one of the initial directors of the corporation.
• D)is not liable on a preincorporation contract after the corporation's adoption of the contract.

Distinguish between various cultures based on core values.

Describe the principles that guide cultural ideologies and ethos.

Differentiate between individualist and collectivist cultures.

Know the types of norms, including enacted norms and their role in culture.

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Definitions:

Sub-Prime Loan

A type of loan that is offered at a rate above prime to individuals who do not qualify for prime rate loans, usually because of poor credit histories.

Prime Rate

Rate of interest that banks charge their most creditworthy customers.

Mosaic Law

A collection of laws, moral codes, and religious instructions attributed to Moses in the Jewish and Christian traditions, forming the basis of biblical law.

Koran

The holy book of Islam, believed to be the word of God (Allah) as revealed to the Prophet Muhammad.