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Quiz for AHRM 4314 - Debtor-Creditor Relationships with Glynn at Virginia Tech (VT)

Quiz Information

Material Type:Quiz 1
Professor:Glynn
Class:AHRM 4314 - Debtor-Creditor Relationships
Subject:Apparel, Housing, & Resour Mgt
University:Virginia Polytechnic Institute And State University
Term:Fall 2005
Keywords:
  • Legal Capacity
  • Similarities
  • Differences
  • Perspective
  • Statute of Frauds
  • Essential Elements
  • Relationship
  • Consideration
  • Relationships
  • Such Factors
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Sample Document Text

QUI Z #l-with answers Name At+\LfV\ ~) 1) r:::- \ 05 ----------------------------- 1. Explain the meaning of the phrase the Essence of Credit? [20] The transfer of value (money, goods, and/or services)from the creditor (or lender) to the debtor (or borrower) in the present (i.e. present value or PV), with the creditor (or lender) receiving in exchange a claim against the future incomelcash flow and assets of the debtor (or borrower). 2. Two of methods for calculating interest on a debt obligation are "simple interest--add on" and "simple interest-discount". Describe the similarities and differences between these two methods. [20] i ::.; (f .!i

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