Oral Contracts

question 38

Multiple Choice

Oral contracts

• A) are unenforceable.
• B) are just as valid as written contracts.
• C) for the sale of real property are valid.
• D) are easier to prove in court than are written contracts.

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Definitions:

Scheduled Payments

Predetermined amounts of money paid at regular intervals under a contract, such as a loan or lease.

Compounded Semi-Annually

A method of calculating interest where the interest is added to the principal amount twice per year, resulting in interest on interest.

Equivalent Stream

A series of equal payments or receipts occurring at regular intervals, used in financial analysis to simplify calculations.

Payments

Amounts of money paid by one party to another in exchange for goods, services, or repayment of a loan.