When a Joint Venturer Contributes Assets to a Joint Venture

question 33

True/False

When a joint venturer contributes assets to a joint venture the assets must be revalued in the books of the venturer:

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Definitions:

Assertion

An assertion is a confident and forceful statement of fact or belief.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly to induce another party to enter into a contract, resulting in harm or loss.

Reliance

The act of depending on or trusting something or someone.

Legal Assent

The express or implied agreement to the terms of a contract, demonstrating a mutual understanding and intention to be bound by those terms.