James Hires Franco for a Painting Job

question 31

Multiple Choice

James hires Franco for a painting job.Their contract explicitly states that Franco's employment can be terminated if he is employed by another party during the contract period.Two weeks into the job,James finds out that Franco is also working for a painting agency two blocks away and terminates his employment.This is an instance of ________ terminating the contract.

• A) condition precedent
• B) condition subsequent
• C) concurrent condition
• D) implied condition

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Definitions:

Dividend Payout Ratio

A financial ratio that shows the percentage of a company's earnings paid out as dividends to shareholders.

Dividend Reinvestment Plans

Programs offered by corporations allowing investors to automatically reinvest dividends paid out by the stock into additional shares, potentially increasing their holdings over time.

New Stock

Shares that are issued for the first time by a company to the public in the primary market.

Open Market Purchase

The buying of shares of a company through the stock market by individuals or companies.