Which of the Following Is NOT a Real Defence to an Action

question 42

Multiple Choice

Which of the following is NOT a real defence to an action on a bill?

• A)misrepresentation
• B)incapacity of contract because of infancy
• C)cancellation of the instrument
• D)alteration of the instrument
• E)absence of delivery when the instrument is incomplete when taken

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Definitions:

Taxable Income

Refers to the amount of an individual's or a corporation's income used to determine how much tax is owed to a government in a given tax year.

Canada Revenue Agency

The federal agency responsible for administering tax laws for the Canadian government and for most provinces and territories.

Accumulated Depreciation

The total amount of depreciation that has been recorded against a fixed asset over its useful life, reducing its book value.

Loss of $1,000

A financial term indicating that an entity has incurred a negative financial result, specifically being $1,000 less than initially accounted for or expected.