Interest Rates Are Always for an Annual Period Unless Stated

question 135

True/False

Interest rates are always for an annual period unless stated otherwise.

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Definitions:

Misrepresentation

The act of giving false or misleading statements that induce someone into a contract, which can be grounds for voiding the agreement.

Fraud in the Inducement

A deceitful practice intended to convince someone to enter into a contract or agreement under false pretenses.

Relied

The act of depending on or trusting in something or someone.

False Representation

The act of deliberately presenting false information or deceiving others about a fact, product, or situation.