A Written Contract That Contains an Unconditional Promise or Order

question 25

True/False

A written contract that contains an unconditional promise or order to pay a specified sum on demand or on a specific date to a specific individual or bearer is legally known as a bill of exchange.

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Definitions:

Consequential Damages

Indirect or secondary losses suffered as a consequence of a breach of contract, not directly related to the breach but a result of the specific circumstances of the plaintiff.

Woodworking

The craft of making objects, structures, or sculptures by shaping, cutting, and joining wood.

Table Saw

A woodworking tool consisting of a circular saw blade mounted on an arbor, used for making precise cuts in wood.

Consequential Damages

Compensation awarded in a legal case for losses that do not directly arise from the wrongful act but are a secondary result of the act, such as lost profits or loss of opportunity.