Micah asks his girlfriend Brandi if he can borrow her car. Brandi agrees to allow Micah to use her car for the day.   Multiple Choice A leasehold has been created. An easement has been created. A fee simple defeasible has been created. A bailment has been created.

Auditing: A Risk Based-Approach (MindTap Course List)
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Chapter4: Professional Legal Liability
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Micah asks his girlfriend Brandi if he can borrow her car. Brandi agrees to allow Micah to use her car for the day.

 

Multiple Choice

A leasehold has been created.

An easement has been created.

A fee simple defeasible has been created.

A bailment has been created.

 

If a transaction is unsecured what might a creditor request in exchange for offering a line of credit?

 

Multiple Choice

A recorded security

A perfected security interest

A legal guaranty

A personal guaranty

 

The court cannot force creditors to agree to a reorganization plan even if it is fair, equitable, and feasible.

True

False

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