When a New and Separate Contract Is Formed Between Parties

question 41

True/False

When a new and separate contract is formed between parties who had an earlier contract dealing with the same matter,the terms,conditions,and exclusions will automatically be assumed to be identical to those found in the earlier contract.

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Definitions:

Interest Earned

The income received from investing in financial instruments that pay interest, such as savings accounts, bonds, or certificates of deposit.

Discounted Price

A reduced price compared to the original selling price, often due to promotions, clearance, or the application of discounts.

Bond Quoted

The listed price or value of a bond in the financial markets, typically expressed as a percentage of its face value.

Stock Value

The price or worth of a particular stock, determined by market conditions and the company's financial health.