A Change in Sal's Financial Condition,making It Impossible for Him

question 42

True/False

A change in Sal's financial condition,making it impossible for him to fulfill a contractual obligation,would be considered objective impossibility,which would discharge his contractual duty.

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Definitions:

Break-Even Point

The point at which total cost and total revenue are equal, meaning there is no net loss or gain, and the business starts to generate profit beyond this point.

Net Margin

A financial metric that measures the percentage of net income to revenue, indicating the profitability of a company after all expenses.

ISO Certification

A seal of approval from a third party body that a company runs to one of the international standards developed and published by the International Organization for Standardization.

Regulatory Requirements

Legal obligations that organizations must comply with, which are typically set forth by government bodies or industry regulators.