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Questions and Answers
What are the conditions for acquiring trader status?
What are the conditions for acquiring trader status?
- Being a legal resident and having a good credit score
- Having a business license and owning a commercial property
- Being over 21 years old and having a college degree
- Being engaged in commercial activities and having the capacity to trade (correct)
What are the reasons for the expiry of companies?
What are the reasons for the expiry of companies?
- Bankruptcy and dissolution (correct)
- Introduction of new products and services
- Change in market demand and technological advancements
- Merger with other companies and expansion of business operations
What are the characteristics of commercial papers?
What are the characteristics of commercial papers?
- They are non-negotiable instruments
- They are only issued by government entities
- They are transferable by endorsement and delivery (correct)
- They are exclusively used in international trade
What are the branches of law according to the text?
What are the branches of law according to the text?
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What is the definition of commercial law?
What is the definition of commercial law?
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Commercial Law is only concerned with laws related to businesses and commerce.
Commercial Law is only concerned with laws related to businesses and commerce.
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Maritime Law is not a part of Commercial Law.
Maritime Law is not a part of Commercial Law.
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There are only two types of business mentioned in the text.
There are only two types of business mentioned in the text.
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The conditions for acquiring trader status are not specified in the text.
The conditions for acquiring trader status are not specified in the text.
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Commercial papers have no specific types according to the text.
Commercial papers have no specific types according to the text.
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