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Which of the Following Is Usually Not a Requirement for a Contract

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Which of the following is usually not a requirement for a contract to be valid?


Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Assets

Resources owned by a person or company that have economic value or can provide future benefits, such as cash, property, or investments.

Equipment

Tools, machinery, or other necessary items for a particular purpose or activity.

Stockholders' Equity

The ownership interest of shareholders in a corporation, represented by the company's assets minus its liabilities.

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