The Only Basis for a Contract Being Held to Be

question 61

True/False

The only basis for a contract being held to be illegal is if it is prohibited by the Criminal Code.

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Definitions:

Balance Per Books

The ending balance on a company's financial records for an account before any adjustments or reconciliations.

Service Charges

Fees assessed for services provided, often by financial institutions or utilities.

NSF

Stands for "Non-Sufficient Funds," indicating a situation where an account does not have enough money to cover a check or withdrawal.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and equity.