Bart Is Ready to Look for a Site for His

question 90

Multiple Choice

Bart is ready to look for a site for his new business. To help him in his search he should

• A) contact a local real estate agent.
• B) check property for sale ads in the local newspaper.
• C) check into site-selection software.
• D) check with the local small business development office.

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Definitions:

Unliquidated Debt

A debt for which the exact monetary value has not been determined.

Preexisting Duty

An obligation that a party is already legally bound to fulfill, which cannot serve as consideration for a new contract.

Accord and Satisfaction

A legal settlement where an agreement is made to discharge a claim by providing some form of compensation that differs from the original obligation.

Liquidated Debt

A debt for which the exact monetary value has been determined and acknowledged by both the debtor and the creditor.