To Rescind a Contract Is to Cancel It

question 72

True/False

To rescind a contract is to cancel it.

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Definitions:

Matures

Refers to the final payment date of a financial instrument at which point the principal (and all remaining interest) is due to be paid.

Days

A unit of time measurement that typically represents a 24-hour period.

Loan

Funds lent with the anticipation of repayment plus an additional amount known as interest.

Interest

The fee for lending money, usually shown as a yearly percentage of the main sum.