A Distinction Must Always Be Drawn Between the Substance of a Contract

question 68

Multiple Choice

A distinction must always be drawn between the substance of a contract and its

• A)parties.
• B)benefits.
• C)principles.
• D)form.
• E)beneficiaries.

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Definitions:

Income

Payment received, often on a consistent schedule, for employment or from investment profits.

Marginal Ordinary Income Tax Rate

The percentage of tax applied to your income for each tax bracket in which you qualify, increasing progressively as your income surpasses threshold amounts.

Qualified Dividends

Dividend payments received on shares of a corporation, taxed at a lower tax rate than regular income.

Tax Rate

The percentage at which an individual or corporation is taxed.