In A[n] ______ Debt,the Parties Either Dispute the Fact That

question 53

Multiple Choice

In a[n] ______ debt,the parties either dispute the fact that any money is owed or agree that some money is owed but dispute the amount.

• A) Disputed
• B) Unacknowledged
• C) Uncertain
• D) Liquidated
• E) Unliquidated

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Definitions:

Duress

An action by one party that forces another party to do what need not be done otherwise.

Personal Defense

In negotiable-instruments law, a defense that can be used against a holder but not against a holder in due course of a negotiable instrument. Also called limited defense.

Payment

The transfer of money or goods from one person or entity to another in exchange for goods, services, or to fulfill a legal obligation.

Fraud in the Inducement

A deceptive practice where one party uses fraudulent acts to entice another party into a contract, which can render the contract voidable.