A construction corporation is attempting to borrow money on a note secured by some of its property.
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A construction corporation is attempting to borrow money on a note secured by some of its property. A bank agrees to accept the note, provided that the president of the corporation will personally endorse it. What is the point of this requirement? Would the bank be likely to require a similar endorsement if the firm were a partnership?
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Related Book For
Financial Accounting An Introduction To Concepts Methods And Uses
ISBN: 9780030452963
2nd Edition
Authors: Sidney Davidson, Roman L. Weil, Clyde P. Stickney
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