ANSWER: C. lien
EXPLANATION: Lien provides the right to a lender to sell off the collateral to get back the principal if the borrower fails to repay. Lien is a conditional right of ownership to the lendor which bars the debtor to sell off the collateral without paying the lendor.
Answer:
C.Unit elastic
Explanation:
Unit elastic demand is the term that describes a scenario where a change in price causes a proportionate change in demand. It is one of the types of elastic demand. A good or service is said to have elastic demand if a small change in price causes a considerable change in the quantity demanded.
In the unit elastic demand, if a product price changes by a certain percentage, the demand will change by an equal percentage. In this scenario, a 7 percent price increase results in a 7 percent decrease in demand.
Explanation:
We have to note an important point here is that, Smith has plan to sell fraudulent identification card through Jones and he has done only Oral agreement.
An oral agreement does not have a proof. Any oral agreement cannot be taken as a proof legally. There must be a proper written agreement required to prove the relationship. There are certain standard too in written agreement.
For Example, agreement written on a normal white paper cannot be accepted. The agreement should be legally signed according the bond paper provided and authorized by the Government.
Considering all the above discussion, Jones stands right.
B. collateral is the right answer
Answer:
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Explanation:
For example, historians believe that Magellan
