Which of the Following Is Not an Essential Feature of a Contract

question 21

Multiple Choice

Which of the following is not an essential feature of a contract under seal (a deed) ?

• A)A seal,or the words 'signed,sealed and delivered'.
• B)A printed or written document that states its purpose,names the parties and states the terms.
• C)Signatures of the parties that are witnesses and dated.
• D)Physical delivery of the deed to each of the parties.

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Definitions:

Consolidated Equity

The total amount of owners' or shareholders' equity in a conglomerate, after all inter-company balances and transactions have been eliminated in consolidation.

Financial Statements

Official records that detail the financial activities and condition of a business, organization, or individual, typically including balance sheet, income statement, and statement of cash flows.

Retained Earnings

The portion of a company's profits kept in the business after dividends are paid to shareholders, used for reinvestment or to pay off debt.