Nondisclosure Involves the Active Hiding of the Truth About a Material

question 2

True/False

Nondisclosure involves the active hiding of the truth about a material fact pertaining to a contract.

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Definitions:

360-Day Year

A financial approximation assuming twelve 30-day months, used in calculating interest and other related computations.

Exact Simple Interest

Interest calculated precisely based on the principal amount, rate of interest, and time, without considering the effects of compounding.

365-Day Year

A term referring to the normal count of days in a calendar year, not including leap years which have 366 days.

Quarterly Payroll

The total amount of wages paid by a business to its employees in a three-month period.