Once Declared, a Cash or Property Dividend Cannot Be Revoked

question 87

True/False

Once declared, a cash or property dividend cannot be revoked.

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Definitions:

Third Parties

Individuals or entities that are not directly involved in a contract or agreement but may be affected by its execution.

Breached Contract

Breaking any of the terms and conditions that were mutually agreed upon in a legally binding agreement.

Claim for Damages

A formal request for monetary compensation due to loss or injury claimed to have been caused by another party.

Constructive Fraud

Conduct that is treated as fraud under the law even when there is no proof of intent to defraud, usually because of the existence of a special relationship or fiduciary duty.