If the Party on Whom Demand for Assurance of Performance

question 27

True/False

If the party on whom demand for assurance of performance is made has an established reputation, a reaffirmation of the contract obligation and a statement that it will be performed may be sufficient to assure a reasonable person that it will be performed.

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Definitions:

Ph.D.

A Doctor of Philosophy degree, the highest university degree that is conferred after a course of study.

MA

Could refer to a Master of Arts degree, an academic qualification awarded upon completion of a course of study in the arts, humanities, or social sciences.

BA

An abbreviation commonly used for Bachelor of Arts, a type of undergraduate degree awarded in arts and sciences.

Market-Based Pay

A compensation approach where pay levels are determined by comparing the market rates for similar positions in the relevant labor market.