If a Contract Condition Is Not Satisfied, the Obligations of the Parties

question 34

True/False

If a contract condition is not satisfied, the obligations of the parties are not discharged.

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Definitions:

Proprietorship

A business owned by one individual.

Personal Assets

Personal assets include all property owned by an individual that has value, such as cash, real estate, investments, and personal belongings.

Liabilities

Financial obligations or debts that a company owes to others, recorded on the right side of the balance sheet.

Equity

The rights of the owners of a business.