If a Contract States That the Contract Is "Subject to the Purchaser

question 24

Multiple Choice

If a contract states that the contract is "subject to the purchaser obtaining financing for $10,000 at 8% by 5:00 p.m. Friday, March 11," it means that

• A) if the purchaser does not obtain the financing, he is in breach of contract.
• B) if the purchaser does not obtain the financing, the contract is frustrated.
• C) if the purchaser does obtain the financing and properly notifies the seller, the contract is then in full force and effect.
• D) there is a contract whether the purchaser gets the financing or not, because the statement is just a statement of intention and doesn't affect the contract.
• E) the obtaining of financing is a condition subsequent and ends the contract.

Understand the concept of relative deprivation and its different forms (egoistic and fraternalistic).

Recognize the role of intergroup behaviour in social unrest and collective violence.

Grasp the significance of ethnocentrism in group dynamics.

Identify the factors that predict involvement in group activities.

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Definitions:

August 31

A specific calendar date, often marking the end of a month or a deadline for certain financial or administrative tasks.

Net Income

The profit a company holds onto after subtracting expenses and taxes from its accumulated revenues.

Common Stock

A type of equity security that represents ownership in a corporation, providing voting rights and a residual claim on corporate earnings and assets.

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's earnings, distributed according to the number of shares each owns.