When the stated interest rate for a loan equals the yield required by the lender, then the amount borrowed equals the
a. principal amount of the loan.
b. principal amount of the loan plus a premium.
c. principal amount of the loan less a discount.
d. fair amount of the loan.
e. fair amount of the loan less a discount.
A
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If an oral contract that should have been in writing under the Statute of Frauds is already executed, neither party can seek to rescind the contract on the grounds of noncompliance with the Statute of Frauds
Indicate whether the statement is true or false