An Offshore Financial Center Is a Territory Whose Financial Sector

question 69

True/False

An offshore financial center is a territory whose financial sector features very few regulations and few,if any,taxes.

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Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Prenuptial Agreements

Legal agreements entered into before marriage, outlining the disposition of assets in the event of divorce or death.

Fully Integrated Contract

A legal document that represents the entire agreement between parties, disallowing any external documents or oral agreements to alter the contract terms.

Parol Evidence Rule

A principle in law that prevents parties to a written contract from presenting extrinsic evidence of terms of the contract that contradict, modify, or vary the written terms.