A Document Specifying the Business Details Prepared by an Entrepreneur

question 128

True/False

A document specifying the business details prepared by an entrepreneur prior to opening a new business is known as a business plan.

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Definitions:

Personal Defense

In negotiable-instruments law, a defense that can be used against a holder but not against a holder in due course of a negotiable instrument. Also called limited defense.

Payment

The transfer of money or goods from one person or entity to another in exchange for goods, services, or to fulfill a legal obligation.

Fraud in the Inducement

A deceptive practice where one party uses fraudulent acts to entice another party into a contract, which can render the contract voidable.

Real Defense

A genuine, substantial defense claim raised in a legal dispute, often based on factual evidence and legal principles.