Testimony of a Person Who Was Present When a Document

question 36

True/False

Testimony of a person who was present when a document was prepared would be admissible at trial if the document was destroyed by accident.

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in a competitive marketplace.

Assessed Valuation

The dollar value assigned to a property for purposes of measuring applicable taxes, determined by a public tax assessor.

Taxation

The imposition of compulsory levies on individuals or entities by governments to fund public expenditures.

Market Value

The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm's length transaction.