A Term Becomes an Express Term of a Contract When

question 27

Multiple Choice

A term becomes an express term of a contract when:

• A)included in a signed, written contract or brought to the attention of the other party by reasonable notice.
• B)it is a significant or important term.
• C)it is necessary for the proper performance of the contract.
• D)it was not specifically agreed upon but was implied by statute or the operation of a legal rule.

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Definitions:

Employer-Sponsored

A program or benefit provided by an employer to its employees, often including health insurance, retirement plans, and educational assistance.

Roth IRA

An individual retirement account allowing contributions to grow tax-free, with qualified distributions also being tax-free.

Single Life Annuity

A type of annuity that only provides payments for the remainder of an individual's life, ceasing upon their death.

Annuity Contract

A written agreement with an insurance company where the company agrees to make periodic payments to a person in return for a premium or series of premiums.