Once a Contract Has Been Substituted with Another Contract,the Original

question 58

True/False

Once a contract has been substituted with another contract,the original contract cannot be enforced against a breaching party.

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Definitions:

Discount

A reduction applied to the regular price of goods or services, often to encourage sales.

Par Value

A nominal value or face value assigned to a share of stock by the corporation at the time of issue.

Articles Of Incorporation

These are legal documents filed with a governmental body to legally document the creation of a corporation.

Liquidated

Refers to the process of converting assets into cash or completing a transaction, such as settling debts.