Unless Otherwise Provided by Statute,an Assignment May Be Oral

question 41

True/False

Unless otherwise provided by statute,an assignment may be oral.

---

Definitions:

Nominal Interest

The stated interest rate of a loan or investment, not accounting for inflation or compounding effects.

Equivalent

Something that is equal in value, function, or meaning to another in a specified context.

Compounded Semiannually

The process of calculating interest where the accrued interest is added to the principal sum twice a year, resulting in interest being earned on previously earned interest.

Double Value

A term indicating that an item’s or asset's value has increased to twice its original value.