When Counting the Days of a Note, Remember to Count

question 16

True/False

When counting the days of a note, remember to count the day the note was issued.

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Definitions:

Accept the Offer

Agreeing to the terms or conditions presented in an offer, thereby entering into a binding contract.

Contractual Capacity

The threshold mental capacity required by law for a party who enters into a contract to be bound by that contract.

Contract

A contract is a legally binding agreement between two or more parties, enforceable by law.

Consideration

The value (such as money, service, or goods) exchanged between parties in a contract which makes the agreement legally binding.