In A(n) ________ Contract, Agreement Between Parties Is Inferred from Their

question 58

Multiple Choice

In a(n) ________ contract, agreement between parties is inferred from their conduct.

• A) implied-in-law
• B) implied-in-fact
• C) express
• D) formal

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Definitions:

Pre-tax Cost

The expense or cost associated with an investment or project before any taxes are deducted.

Marginal Tax Rate

The rate at which your last dollar of income is taxed, indicating the percentage of tax applied to your next dollar of taxable income.

Coupons

The interest payments made to bondholders, typically on an annual or semi-annual basis.