Contracts Containing Unconscionable Clauses Are Void and Unenforceable

question 3

True/False

Contracts containing unconscionable clauses are void and unenforceable.

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Definitions:

Fees Payable

Liabilities owed for services rendered by a third party, such as professional consulting or management services, that have not yet been paid.

Balance Sheet

A financial statement showing a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Unearned Revenue

Income received by a company for goods or services that have yet to be delivered or performed, also known as deferred revenue.

Normal Balance

The side (debit or credit) of an account that is typically increased. For example, assets and expenses usually have a debit normal balance, while liabilities, equity, and revenue have a credit normal balance.