A Contract of Record Arises When the Accountant of One

question 19

True/False

A contract of record arises when the accountant of one of the parties has made an entry of the contract in the business record of that party.

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Definitions:

Causes

The reasons or factors that bring about an outcome or influence an event to happen.

Functional Disorders

Medical conditions with symptoms not attributable to any structural or organ specific pathology, often related to the body's functional systems.

Psychosis

A mental disorder characterized by a disconnection from reality, manifesting in symptoms like hallucinations, delusions, and incoherent speech or behavior.

Neurosis

A class of functional mental disorders involving distress but neither delusions nor hallucinations, causing significant emotional upset.