If a Contract Term Is Ambiguous, a Court Can Consider

question 49

True/False

If a contract term is ambiguous, a court can consider outside evidence.

---

Definitions:

Accounts Payable

The amount of money owed by a company to its creditors or suppliers for purchases made on credit, typically recorded on the balance sheet under current liabilities.

Paper Invoices

Traditional, physical billing documents issued by a seller to the buyer, detailing the products or services sold and the amount due.

Procure-to-Pay (P2P)

The process that businesses use to requisition, purchase, receive, and pay for goods and services.

Order Cycle Times

The duration between when a customer places an order and when they receive the product, often a critical metric in supply chain management.