Words Used in a Contract May Have a Special Meaning

question 7

Essay

Words used in a contract may have a special meaning in the particular business,trade or geographic location.Briefly describe how a court deals with evidence of special meaning or usage.

Recognize the impact of developmental and individual differences on attentional processes.

Understand the concept of obedience and factors influencing it, including the role of authority.

Recognize various forms of social influence including conformity, compliance, and normative influences.

Explain the psychological mechanisms behind automatic responding and interruption of these routines.

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Definitions:

Fair Value

The cost at which an asset could be sold or a liability could be resolved in a structured exchange among participants in the market as of the evaluation date.

Common Shares

are equity securities that represent ownership in a corporation, entitling holders to a share of the corporation's profits through dividends and/or capital appreciation.

Consolidated Financial Statements

Financial statements that show the financial position and results of operations for a parent company and its subsidiaries as one economic entity.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within a business's normal operating cycle if longer.