The Term Privity Refers to Parties Being in a Contractual

question 60

True/False

The term privity refers to parties being in a contractual relationship with one another.

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Definitions:

Bond Issue

The process by which a government or corporation raises funds by issuing bonds to investors, which are debt securities establishing an obligation to pay back the principal along with interest by a specified date.

Semiannual Interest

Semiannual Interest refers to interest that is calculated and paid twice a year, commonly found in bonds and other types of loans.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which may not coincide with the calendar year.

Accrued Interest

The interest that has been incurred but not yet paid on a loan or bond.