The Plea of Non Est Factum Allows a Person to Avoid

question 42

True/False

The plea of non est factum allows a person to avoid a signed contract whenever they are mistaken by several degrees about a key term or condition.

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those presented on a bank statement to ensure accuracy and consistency.

Outstanding Checks

Checks that have been written and recorded in the paying entity's cash records but have not yet cleared the bank account.

NSF Check

A check that cannot be processed because the account on which it was drawn lacks sufficient funds, standing for Non-Sufficient Funds.

Outstanding Checks

Checks that have been written and recorded in the payer's ledger but have not yet been cashed or processed by the recipient's bank.