Rectification Will Be Ordered Where

question 42

Multiple Choice

Rectification will be ordered where

• A)there is a complete unambiguous agreement that was recorded incorrectly.
• B)the parties wish to change certain terms in the contract.
• C)one of the parties to the contract lacks legal capacity.
• D)the offeror misrepresented certain facts.
• E)the wrong party performs the contract.

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Definitions:

Stock Securities

Shares that represent ownership or equity in a corporation, providing voting rights and a portion of dividends.

Face Value

Amount of principal due at the maturity date of the bond.

Interest Receivable

An asset account on the balance sheet representing interest income that has been earned but not yet collected in cash.

Strategic Goals

Long-term, broadly defined targets an organization sets to achieve its vision and mission.