When the Words in a Contract Have More Than One

question 32

True/False

When the words in a contract have more than one meaning, they are gen?erally in?ter?preted in favor of the party who drafted the contract.

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Definitions:

Federal Statute

A law enacted by the United States Congress that applies to all states, territories, and possessions under U.S. jurisdiction.

Interstate Commerce

The buying, selling, or moving of products, services, or money across state borders, regulated by the federal government.

Stock Options

Financial derivatives allowing the holder to buy or sell specific shares at a predetermined price within a set time frame.

Customary Type

Practices or items that are traditional or expected within a certain context or society.