Destroying Records in Relation to a Bankruptcy Proceeding Can Be

question 28

True/False

Destroying records in relation to a bankruptcy proceeding can be in a company's best interest. 

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Definitions:

Quasi Contract

A legal concept where a court enforces an obligation between two parties who have not agreed to an actual contract, to prevent one party from being unjustly enriched.

Oral Contracts

Agreements between parties that are made verbally and not memorialized in writing, yet are still legally binding in many cases.

Reformation

A court-ordered correction of a written contract so that it reflects the true intentions of the parties.

Erroneous Legal Description

A mistake or inaccuracy in the written account of the boundaries or details of a property in legal documents.