Which of the Following Is Not a Step for Drafting

question 43

Multiple Choice

Which of the following is not a step for drafting a simple contract?

• A)Prepare an outline.
• B)Test and revise the contract.
• C)Send the contract to the police to ensure that it is legal.
• D)Proofread the contract.

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Definitions:

Minimum Lease Payments

The least amount of payments over the lease term that the lessee is obligated to make to the lessor.

Residual Value Guarantee

An assurance provided by a party (usually lessor or seller) that guarantees a minimum future value for an asset at the end of its lease term.

Present Value

The current value of a future amount of money or stream of cash flows given a specified rate of return.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, calculated as current assets divided by current liabilities.