A Party with the Power to Avoid a Contract Will

question 61

True/False

A party with the power to avoid a contract will not lose that power by delaying the avoidance.

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Definitions:

Every Party

Refers to all the individuals or entities involved in an agreement, contract, or legal action.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.

Payment

The act of transferring money or something of value in exchange for goods or services.

Commercially Reasonable

A standard requiring actions that are typical or expected within a business context and in good faith.