(1) In "Promissory note" and a “bill of exchange" how many parties involved? a) Two parties to a "Promissory note three to a bill of exchange" b) One party to a "Promissory note" two to a "bill of exchange" c) Four parties to a "Promissory note" three to a "bill of exchange
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exchange" how many parties involved?
a) Two parties to a "Promissory note three
to a bill of exchange"
b) One party to a "Promissory note" two to
a "bill of exchange"
c) Four parties to a "Promissory note"
three to a "bill of exchange"
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- The sale or transfer of a partner's transferable interest is a(n) act of the partner. Multiple Choice involuntary state-mandated voluntary federally mandatedFiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…Granite Insurance Company entered into a treaty reinsurance agreement with Rock Solid Reinsurance (RSR). Granite's retention limit is $400,000 and RSR agreed to provide reinsurance for up to $2.0 million. If Granite writes an $800,000 policy, RSR is responsible for 50 percent of the losses. If Granite insures a $1.6 million risk, RSR is responsible for 75 percent of any losses. What type of reinsurance arrangement did Granite enter into with RSR? ما A) reinsurance pool B) surplus share reinsurance C) facultative reinsurance D) excess of loss reinsurance
- True /false The variation of transport cost by FOB, CFR /CIF brings more or less costs and changes the nature of the terms. Under FOB, insurance is an obligation for importer. DAT is only for sea or inland waterway transportation mode. Institute War/Strike Clause also have independent and complete structure, but can be covered separately only after agreement from the insurer according to ICC. Under FCA, a seller is responsible for loading and unloading cargo at any agreed delivery point. Under FOB, insurance is an obligation for importer.James is looking to enter into a listing contract with Mary to sell her house. The two are trying to come to an agreement on what type of listing contract to use. What type of listing contract will offer James the least amount of protection? O An open listing agreement since it is a unilateral contract. O An exclusive Right to Sell agreement since it is a bilateral contract. O An Exclusive Agency agreement since the owner can still find a buyer themselves O An Exclusive Agency agreement since it is a unilateral contract.In relation to Consideration select the CORRECT statement:Select one:To be valid, the agreed price and the goods sold, must be of equal value.Consideration can be vague or illusory as long as it was communicated to the other partyConsideration is the exchange of something of value (a thing, a promise, money etc), given in return for something else of value (a thing, a promise, money etc)Consideration is not necessary to form a legally binding contractTo be valid, Consideration must involve payment of money, in return for something of value.
- Which of the following is true of a severable contract? Multiple Choice It must be enforced or rejected in its entirety. It contains multiple parts that need to be performed collectively. It has both legal and illegal portions in the contract. It needs complete performance by both parties.Hyde is a broker involved in a conflicting demands settlement procedure that has already begun. The escrow funds are held in an attorney's escrow account. Hyde seeks an EDO from the FREC. How will the FREC likely respond? The FREC will not issue an EDO because the funds are in an attorney's escrow account. The FREC will issue an EDO within ten business days. The FREC will issue an EDO if the other three settlement procedures don't work. The FREC will not issue an EDO because the dispute must be settledIf a person signs a negotiable instrument because he is fraudulently deceived regarding its nature or essential terms gives the holder a universal defense.. O True False
- This case describes a hypothetical situation faced by a fictitious international conglomerate, ICL, that intends to enter the retail grocery market in Hong Kong. The conglomerate's interest in the Hong Kong supermarket industry was initially kindled by the plan of Hutchison Whampoa, Ltd. (HWL) to sell its leading supermarket chain PARKnSHOP in August 2013. However, in October 2013, HWL reversed course and decided not to sell PARKnSHOP, saying that the sale would not deliver maximum value to its shareholders. Before embarking into new territory, ICL wanted an in-depth understanding of the Hong Kong grocery market environment, competitors, and potential barriers to entry. The conglomerate was aware that the new Competition Law, which was expected to take effect in 2015, might have profound implications on the grocery market landscape in Hong Kong. Case Study Questions Analyze the competitive environment of the supermarket industry in Hong Kong and the competitive response of the two…Defined as an unconscious ignorance or forgetfulness of the existence or non existence of a fact,past or present,material to the contract.Question 13 A party contracts to guaranty the collection of the debts of another. As a result of the guaranty, the creditor, upon debtor's default, can immediately proceed against the guarantor without further notice. True False Question 14 Hudson National Bank files a financing statement regarding a transaction with EcoVibes. To be valid, the financing statement must contain both the debtor's and creditor's signatures. True False Question 15 The Truth-In-Lending Act applies to all merchants that sell consumer goods. True False