A Written Contract or Memorandum Must Be Signed by

question 18

Multiple Choice

A written contract or memorandum must be signed by

• A) both parties.
• B) either party.
• C) the party to be held liable.
• D) the party bringing suit.

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Definitions:

Present Value Factors

Present Value Factors are numerical values used to calculate the present value of a future sum of money or stream of cash flows given a specified rate of return.

Annual Lease Payment

The total amount of money required to be paid each year under the terms of a lease agreement.

Direct Financing Lease

A type of lease where the lessor effectively finances the leased asset, and the lease payments are structured to cover the original cost plus a profit margin.