To Encourage People to Cancel Illegal Contracts,courts Will Allow a Person

question 88

True/False

To encourage people to cancel illegal contracts,courts will allow a person who rescinds such a contract before any illegal act has been performed to recover any consideration that he has given.

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Definitions:

Financial Data

Information about financial transactions, including revenues, expenses, assets, and liabilities, used to analyze the financial health of a business.

Acid-Test Ratio

A liquidity ratio that measures a company's ability to pay off its current liabilities with quick assets, excluding inventory.

Financial Data

Information related to the financial status of an individual or organization, including income, expenses, assets, and liabilities.

Acid-Test Ratio

A financial metric that measures a company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.