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Even When a Trial Balance Is in Balance, There May

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Even when a trial balance is in balance, there may be errors in the individual accounts.


Definitions:

Grantor

In legal contexts, this refers to the individual or entity that creates a trust, conveys property, or grants a right.

Warranties of Title

Legal guarantees provided by a seller to a buyer that they have the rightful ownership of the item or property being sold and have the right to sell it.

Executes

Carries out or performs a task or action, often with precision and according to a plan or law.

Statute of Frauds

The Statute of Frauds is a legal concept requiring certain types of contracts to be written down and signed by all parties involved to be enforceable.

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