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Kane is a student at your institution. Kane who is seventeen years of age, is also a businessman who has so far, been very successful. Kane desires to expand his business and approaches X Bank Ltd for a loan of $20,000. to buy some computers. The manager of X Bank has known Kane and his family personally for years, so Kane did not think it would be a problem. The bank requires a guarantee and Kane manages to persuade his brother Able, who is nineteen years of age, to act as guarantor. The contract of guarantee is in a standard form and is exactly the same as that used by the bank with other customers. However Able cannot read. The manager of X Bank is aware of this but forgets to reads it to Able. The bank manage requires that Abel see an independent lawyer so that the bank can obtain the necessary certificate. Abel went to see Ms Sue-Ann Billem a solicitor. Ms Billem asked if he understood the contract. Ms Billem was unaware that Abel was illiterate. Abel, a typical 19year old youth, was too embarrassed to admit to an attractive young woman lawyer that he could not read, so he simply said "yes." Kane's business fails and as Kane is unable to repay the loan, the bank seeks repayment from Able in terms of the guarantee. For this essay Discuss; 1. What is a Guarantee in terms of Business Finance? 2. Why was it necessary for the bank to require a guarantee. 3. The legal liability of Able.
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Importance of finance in business?
Finance in any business is very important. This is what runs a business and people work so hard to get more finances in terms of profits.
What does PX mean in finance?
In business terms, PX means price.
What small business guarantee and finance corporation?
What information are are you asking about. This is very vague. Please be more specific so you can get your question answered.
What are the importance of business finance?
What is objective of business finance? Why finance is important for a business? purchase of asset income daily expenses taxation
What is the difference between seasoned bank guarantee and slightly seasoned bank guarantee?
The terms "Seasoned Bank Guarantee" and "Slightly Seasoned Bank Guarantee" are phrases used by scammers to convince people who are not knowledgeable about the banking business to pay to join some internet trading scheme where banking instruments are supposedly traded. The terms Fresh Cut Bank Guarantee, Fresh Cut Bank Notes, and MTN are other terms used in this scam. None of these terms are used in the legitimate banking industry. Trading of banking instruments is highly regulated. These regulations state that persons who make the trades of financial instruments must have a license to do so. A novice in finance would not have the knowledge to pass the licensing exam nor would that person have the knowledge to understand the markets for financial instruments. See: http:/www.crimes-of-persuasion.com/Crimes/InPerson/MajorPerson/prime_bank.htm
Guarantee in terms of business finance?
Guarantee in terms of business finance
Importance of finance in business?
Finance in any business is very important. This is what runs a business and people work so hard to get more finances in terms of profits.
Importance of business finance?
Finance in any business is very important. This is what runs a business and people work so hard to get more finances in terms of profits.
What does PX mean in finance?
In business terms, PX means price.
What is a synonym for finance?
fund, support, pay for, guarantee, invest in, economics, business, money, banking, accounts, commerce
What small business guarantee and finance corporation?
What information are are you asking about. This is very vague. Please be more specific so you can get your question answered.
Do I need to personally guarantee the line of credit or business loan?
Your personal guarantee can be required based on the amount and type of your funding request for business. Business loansand line of credits have completely different terms and quotes.
What are the importance of business finance?
What is objective of business finance? Why finance is important for a business? purchase of asset income daily expenses taxation
Is business study the same as business fiance?
HI!no, business studies is not the same as business finance. although business finance is included in a business studies course; finance obviously plays a big part in a business.:)
Expand ard in terms of realestate finance?
expand of ARD in terms of finance/real estate
What is the population of ASC Finance for Business?
The population of ASC Finance for Business is 2,011.
What is ASC Finance for Business's population?
The population of ASC Finance for Business is 30.
