All Contracts Must Be in Writing to Be Enforceable

question 17

True/False

All contracts must be in writing to be enforceable. ​

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Definitions:

Adequate Protection

A principle in bankruptcy law that ensures creditors receive protection against the depreciation of their collateral during a bankruptcy case.

Automatic Stay

A provision in bankruptcy proceedings that halts most legal actions against the debtor, providing temporary relief from creditors, evictions, and certain lawsuits.

Legal Action

The formal process of resolving disputes by a court of law, including lawsuits and litigation.

Punitive Damages

Punitive damages are financial compensation awarded to a plaintiff, over and above the actual damages, intended to punish the defendant for egregious wrongdoing and deter future similar acts.