Examlex
For each of the following, identify whether it would be disclosed as an operating (O), financing (F), or investing (I) activity on the statement of cash flows under the indirect method.
Novation
The process of replacing an existing obligation with a new one, effectively transferring the rights and duties to another party.
Breach of Contract
The act of not executing any part of a contract, either written or oral, lacking a legitimate legal rationale.
Non Est Factum
A legal defense claiming a person signed a document without understanding its nature due to a fundamental mistake.
Duress
A situation where a person is forced or compelled to act against their will or to enter into a contract due to threats, violence, or other pressure.
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