A(n) ________ Is a Contractual Provision That Relieves One or Both

question 54

Multiple Choice

A(n) ________ is a contractual provision that relieves one or both of the parties to a contract from tort liability.

• A) contract of adhesion
• B) exculpatory clause
• C) duty of restitution
• D) fundamental breach

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Definitions:

Interest Due

The amount of interest payment required to be paid on a loan or debt at a specified date.

Maturity Value

The amount that will be received at the maturity date of a financial instrument, typically including the principal and the interest.

Note Receivable

A financial asset representing a written promise to receive a specific amount of money, plus interest, from another party at a future date.

Interest Due

The amount of interest that has accumulated on borrowed funds or investments that is payable to the lender or investor.