Plant and Property Assets Include

question 77

Multiple Choice

Plant and property assets include:

• A)equipment, supplies and land.
• B)equipment, prepaid insurance and furniture.
• C)equipment, buildings and land.
• D)land, buildings and accounts receivable.

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Definitions:

Innocent Misrepresentation

A false statement made by someone who believed it to be true, leading another party to enter into a contract.

Misrepresentation

Misrepresentation is the providing of false or misleading information that induces another party to enter into a contract, potentially leading to legal consequences.

Duress

Duress refers to a situation where a person performs an act as a result of violence, threat, or other pressures against them, which can invalidate any agreement made under such conditions.

Non Est Factum

A legal defense claiming a signed agreement is invalid because the signer was unaware of its true nature due to a mistake or misrepresentation.