A Check Is a Formal Contract

question 66

True/False

A check is a formal contract.

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Definitions:

Asset Sale

The transaction in which the assets of a company, instead of its stock, are sold to a buyer, transferring ownership of the assets.

Shareholder Approval

The authorization required from a corporation's shareholders to approve significant company actions, such as mergers or sale of substantial assets.

Market Values

The current price at which an asset or service can be bought or sold in an open and competitive market.

Real Property

Land and anything permanently affixed to the land, such as buildings and natural resources.