When a Contract Has Been Performed in All but a Minor

question 10

Short Answer

When a contract has been performed in all but a minor aspect of it, this is known as ________.

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Definitions:

Guaranteed Investment Certificate

A secure investment that guarantees to return the principal amount plus interest at a specified rate.

Compounded Annually

Interest calculation method where interest is added to the principal at the end of each 12-month period.

Annual Rate of Decline

The percentage at which a value decreases over the course of one year.

Strip Bond

A debt security that has had its principal and coupon payments detached and sold separately as zero-coupon bonds.