An Implied Term May Be Imposed by the Court in Order

question 20

True/False

An implied term may be imposed by the court in order to give effect to the parties' intentions.

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Definitions:

Cash Receipts

The sum of all money received by a company during a specified period, from operations, investments, and financing.

Depreciation Expense

The portion of the cost of a fixed asset that is recorded as an expense each year of its useful life.

Cash Payments

Transactions involving the outflow of cash to settle obligations or purchase goods and services.

Cash Budget

A forecast of cash inflows and outflows over a certain period, used to manage the company's cash balance and ensure liquidity.