Appellate courts conduct courts of appeals and supreme courts.

$62,000 is borrowed, to be repaid in three equal, annual payments with 10% interest. Approximately how much principal is amortized with the first payment?

a. $24,931.12 b. $18,731.12 c. $6,200.00 d. $2,493.11

What action returns a contract's parties to their position before the contract, including return of any deposit?

A) Cancellation B) Rescission C) Substitution D) Subordination