The Term ________ Refers to a Doctrine That States That

question 19

Multiple Choice

The term ________ refers to a doctrine that states that the courts will refuse to enforce or rescind an illegal contract and will leave the parties where it finds them.

• A) disaffirmance
• B) exculpatory clause
• C) emancipation
• D) effect of illegality

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Definitions:

Tangible Assets

Physical items of value owned by a company, such as machinery, buildings, or land.

Intangible Assets

Non-physical assets of a business such as intellectual property, brand value, and goodwill that have value but are not physical objects.

Income Potential

The maximum amount of money someone can earn or a business can generate under current conditions.

Dead Stock

Unsold goods that have been in inventory for a long time and are not expected to be sold due to their obsolescence or lack of demand.