Simple Interest Means That Interest Is Calculated on the Principal

question 5

True/False

Simple interest means that interest is calculated on the principal and on all previously earned interest.

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Definitions:

Doctrine Of Frustration

A legal principle allowing a contract to be set aside or terminated if an unforeseen event renders contractual obligations impossible, or radically changes the party's principal purpose for entering into the contract.

Edward VII

King of the United Kingdom and the British Dominions, and Emperor of India, from 1901 to 1910, known for modernizing the British Home Fleet and his role in the Entente Cordiale.

Condition Subsequent

A condition subsequent is a condition in a contract that, when met, terminates an existing obligation under the contract, as opposed to initiating it.

Breach Of Contract

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