A T Account Has Three Parts: the Title,the Debit Side,and

question 58

True/False

A T account has three parts: the title,the debit side,and the credit side.

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Definitions:

Notified

Being informed or made aware of information, actions, or requirements officially or formally.

Specific Performance

A legal remedy in contracts where the court orders the party who breached the contract to perform the promised duty as outlined in the contract.

Breach of Contract

The failure to perform any term of a contract, written or oral, without a legitimate legal excuse.

Caveat Emptor

A legal principle that the buyer assumes the risk of quality in a purchase unless protected by warranty.