List Some Common Examples of Principal and Income Items

question 93

Essay

List some common examples of principal and income items.

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Definitions:

Seller's Representation

Statements made by a seller regarding the quality, condition, or legal status of the goods or property being sold.

Warranties of Title

Guarantees provided by a seller that they have the legal right to sell the property and that it is free from undisclosed encumbrances.

Sales Contracts

Agreements between buyers and sellers regarding the exchange of goods, services, or property for payment or promise of payment.

Stolen Goods

Items that have been taken without permission or acquired illegally, typically with the intent to sell for profit.