Examlex
Some risk exists that the financial statements are not fairly stated, even when the auditor's opinion is unmodified.
Unliquidated Debt
A debt for which the exact amount has not been determined.
Liquidated Debt
A debt for which the amount owed is known and undisputed.
Unliquidated Debt
A debt for which the amount has not been predetermined or agreed upon, often because the extent of damages or compensation cannot be readily quantified.
Accord And Satisfaction
A legal contract where a dispute is settled by the parties involved agreeing to give and accept something of value in resolution, significantly altering the original contract's terms.
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