A Contract to Do Something That Is Prohibited by State

question 50

True/False

A contract to do something that is prohibited by state statutory law is illegal but not void from the outset.

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Master the correct use of command mood in writing clear and concise instructions.

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Definitions:

Public Sector Accounting Handbook

A comprehensive guide detailing accounting practices, standards, and principles to be applied in the public sector.

Hong Kong-Based Company

A business entity registered or incorporated in Hong Kong, operating under the legal and regulatory framework of Hong Kong.

Toronto Stock Exchange

Canada's largest stock exchange, known for its high concentration of mining and energy stocks.

OSC

Refers to the Ontario Securities Commission, which is responsible for regulating the securities industry in Ontario, Canada, ensuring fair and transparent markets.