Only Mistakes of Law Can Render a Contract Void

question 1

True/False

Only mistakes of law can render a contract void.

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Definitions:

Labor Intensive

Describes production processes or industries that require a large amount of labor relative to capital to produce goods or services.

Fixed Asset Investments

Long-term investments in tangible assets such as property, plant, and equipment, intended for use in operations.

Trade-In Allowance

The value subtracted from the price of a new item when an old item is given as part of the deal.

Book Value

The net value of an asset or company calculated by total assets minus intangible assets (patents, goodwill) and liabilities.