Any Contract Entered into with an Unlicensed Party Is Unenforceable

question 52

True/False

Any contract entered into with an unlicensed party is unenforceable.

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Definitions:

Money Market Securities

Short-term financial instruments that are typically liquid and considered safe, such as Treasury bills and certificates of deposit.

Average Daily Float

The average amount of un-cleared or in-process checks and electronic payments that are recorded in a company’s accounting system at any given time.

Collection Delay

The time it takes for a business to receive payment after issuing an invoice or credit sale, impacting cash flow.

Interest Rate

The cost, represented as a fraction of the principal, imposed by a creditor on a debtor for the borrowing of assets.