Oral Evidence to "Fill in the Gaps" of a Contract

question 20

True/False

Oral evidence to "fill in the gaps" of a contract with incomplete terms can be introduced at a trial.

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Definitions:

Cash Collected

The total amount of money received by a company during a specific period.

Sales Reported

The total revenue recognized from selling goods or services, as documented in financial statements or reports.

Financing Activity

Transactions and events whereby resources are obtained from, or repaid to, owners (equity financing) and creditors (debt financing).

Purchase

The act of acquiring goods or services in exchange for money, constituting a fundamental business transaction.