Examlex
Which of the following is not characteristic of a valid contract?
Calls in Advance
Money received by a company from shareholders before their shares have been issued to them, often applied towards future calls on shares.
Share Issuance Costs
Expenses associated with the issuance of new shares, such as underwriting, legal, and registration fees.
Financial Statements
Formal records of financial activities and position of a business, person, or other entity, presenting the financial results over a specific period.
Forfeited Shares
Shares that are surrendered or taken back by a company from an investor because of the non-fulfillment of purchase conditions or agreements.
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