A Party Who in Good Faith Performs Substantially All of the Terms

question 21

True/False

A party who in good faith performs substantially all of the terms of a contract can enforce the contract against the other party.

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Definitions:

Cash Surrender Value

The amount of cash that an insurance policyholder can receive upon cancelling the policy before its maturity or an insured event occurs.

Insurance Policy

A contract between an insurance policyholder and an insurer, outlining the claims which the insurer is legally required to pay in exchange for an initial payment, known as a premium.

Long-Term Investment

An investment strategy or vehicle designed to hold or grow funds over an extended period, usually several years or longer.

Significant Influence

The capacity to affect the financial and operating policies of another entity through ownership or other means.