Which of the following statements is TRUE? Interest rates
A) cannot exceed 60% per annum under the Criminal Code
B) can exceed 500% in some provinces for pay day loans
C) must be stated as an annual rate or the lender can only charge 5% per annum
D) must disclose all fees and administrative costs tied into the interest rate for consumer loans
E) all of the above
E
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Forum non conveniens is a court order directing a person not to proceed with litigation in a foreign court
Indicate whether the statement is true or false
As a favour to a friend, Jane Monroe became a director of Urban Attitudes, Inc It went bankrupt and didn't send income tax money deducted from wages to the government, but used the money in a fruitless attempt to save the business
Jane did not attend any board meetings and didn't know of the failure to send the money to the government. Which of the following is true? A) Jane is not liable to pay the taxes because she didn't know of the failure to send in the money. B) Jane is not liable to pay the taxes because she was not personally involved in the failure to send in the taxes. C) Jane is liable merely because she was a director at the time the corporation failed to send in the money. D) Jane is not liable to pay the taxes because she was not paid for being a director. E) Both A and B