A Swap Contract Releases Each Party from Its Obligation Should

question 25

True/False

A swap contract releases each party from its obligation should the other party default.

---

Definitions:

Sole Proprietors

Individuals who own an unincorporated business by themselves, assuming complete responsibility for the business’s assets and liabilities.

Subagents

Agents appointed by another agent with the primary agent's permission and acting on behalf of the original client within the scope of the delegated authority.

Two-party Relationship

A contractual or legal relationship involving exactly two parties, often referring to agreements, negotiations, or transactions.

Fiduciary

An individual or organization that acts on behalf of another person or people, and is bound to act in their best interests with a duty of loyalty and care.