A clause that states that a bank can make a major change to the terms of a guarantee as it may see fit and the bank does not have to give notice or get the consent of the guarantor is
A) illegal
B) is legal if the bank gives the guarantor notice of the change but their consent is not needed
C) is legal only if the bank gets the guarantor's consent
D) unenforceable if guarantor has repaid most of the debt already
E) a material variation clause
E
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Ann Covington, CPA, has been asked to perform a consulting services engagement concerning the analysis of a potential merger. She has little experience with the industry involved. What is her most appropriate action?
a. Accept the engagement and perform it in accordance with auditing standards b. Accept the engagement and perform additional research or consult with others to obtain sufficient competence c. Accept the engagement and issue a report vouching for the achievability of the results of the merger d. Decline the engagement because she lacks sufficient knowledge
Tenancy in common requires unity of:
A. time B. title C. possession D. All of the above