A Contract Involving Property of Any Kind Must Be in Writing

question 1

True/False

A contract involving property of any kind must be in writing to be enforceable.

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Definitions:

Cash Flow Growth

An increase in the amount of money moving in and out of a business over a specific period, indicative of its financial health and operational efficiency.

Loan Principle

The original sum of money borrowed in a loan agreement, which does not include interest or other charges.

Interest Rate

The fraction of a quantity of money that is required as payment for lending it, often stated on a yearly basis.

Annual Percentage Rate

The annual rate charged for borrowing or earned through an investment, which is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.