During Periods of Rising Inflation, There Is a Transfer of Wealth

question 83

Multiple Choice

During periods of rising inflation, there is a transfer of wealth from _____.

• A) the government to taxpayers
• B) the young to the elderly
• C) the poor to the rich
• D) lenders to borrowers

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Definitions:

Parol Evidence Rule

A legal principle that prevents parties from using oral or extrinsic evidence to contradict or vary the terms of a written contract.

Condition Precedent

In contract law, an act or promise that must take place or be fulfilled before the other party is obligated to perform his or her part of the agreement.

Enforceable

Describes a legal agreement or contract that is valid and therefore can be upheld and enforced in a court of law.

Best Evidence Rule

A legal principle requiring the presentation of the original document as evidence in court, rather than copies, unless the original is unavailable.