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All of the Essential Terms of a Contract Must Be

question 59

True/False

All of the essential terms of a contract must be clearly specified.


Definitions:

Articles of Incorporation

A document filed with a state government to legally document the creation of a corporation.

Corporation

A legal entity that is separate and distinct from its owners, which can enter into contracts, own assets, sue and be sued.

Piercing the Corporate Veil

A legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders or directors.

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