Under the Equal Dignities Rule,oral Evidence Cannot Be Used to Clarify

question 20

True/False

Under the equal dignities rule,oral evidence cannot be used to clarify terms that are obscure in a written contract.

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Definitions:

Noncumulative

Describes preferences or rights that do not carry over or accumulate if they are not used within a certain period.

Nonparticipating

In the context of insurance or preferred stock, referring to policies or shares that do not entitle the holder to share in profits beyond a specified amount.

Stockholders

Individuals or entities that own shares in a corporation, thus holding an ownership stake.

Dividends in Arrears

Dividends on cumulative preferred stock that have not been paid in the period they were due, accumulating until paid by the corporation.