An Unliquidated Debt Can Be Described as

question 27

Multiple Choice

An unliquidated debt can be described as

• A)a debt in which both its existence and amount is in dispute.
• B)a debt in which the existence or amount is in dispute.
• C)a debt disputed by the creditor but not the debtor.
• D)a debt undisputed by either party.

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Definitions:

Conditional sale contract

An agreement where the sale is conditional upon certain terms, often used in property and vehicle sales where possession is granted but legal ownership is retained by the seller until full payment is received.

Compounded monthly

The process of adding interest to the principal sum of a loan or deposit, where the interest is added monthly.

Compounded monthly

The process of calculating interest on an investment or loan each month, with each month's interest added to the principal.

Economic value

The worth of a good or service as determined by the market and the price a buyer is willing to pay.