An Output Contract Is Too Vague to Be a Legally-Enforceable

question 20

True/False

An output contract is too vague to be a legally-enforceable agreement.

---

Definitions:

Partnership Terminated

The disbanding of the partnership agreement between the involved parties, leading to the cessation of the partnership business.

Dissolution

The closing down or termination of a legal entity or agreement, such as a corporation or partnership.

Partnership's Name

The official legal name under which a partnership is registered and operates its business.

Dissolution of a Firm

The process of legally ending the existence of a business or partnership and distributing its assets to claimants.