A Person Who Enters into a Contract When He or She

question 6

True/False

A person who enters into a contract when he or she is intoxicated can void the contract only if the intoxication was involuntary.

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Definitions:

Serial Bond

A type of bond that matures in installments over a period of time rather than having a single maturity date.

Principal

The initial amount of money borrowed or invested, excluding any interest or dividends.

Installments

Regular, often monthly, payments made towards settling a debt or purchasing a product over time.

Callable Bond

A type of bond that gives the issuer the right to repay the bond before its maturity date, usually at a specified call price.