A business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective is called a strategic international alliance

Edgar Winter is a sales agent for Magnum Enterprises. Winter has assumed an obligation to indemnify Magnum if any of Winter's customers fail to pay. Under these circumstances, which of the following is true?

A. Winter's engagement must be in writing regardless of its duration. B. Upon default, Magnum must first proceed against the delinquent purchaser-debtor. C. The above facts describe a del credere agency relationship, and Winter will be liable in the event his customers fail to pay Magnum. D. There is no fiduciary relationship on either Winter's or Magnum's part.

In secured credit, the creditor cannot recover the collateral despite the debtor's defaults on the loan

Indicate whether the statement is true or false