Jake's Steaks Has Hired LONF, an Audit Firm, to Conduct

question 44

Multiple Choice

Jake's Steaks has hired LONF, an audit firm, to conduct an audit for purposes of preparing an IPO for Jake's.  The contract provides that the audit will be completed within 4 months.  At the end of three months, LONF has not yet begun the audit and lets Jake's know that it cannot complete the audit within four months because Jake's staff have not provided access to the company's books and records.  Which of the following statements is correct?

• A)LONF has breached the audit contract.
• B)A condition precedent to performance has not been satisfied.
• C)Because there was no access clause in the contract, LONF must still perform on time.
• D)The contract is void.

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Definitions:

X-Chromosome

One of the two sex chromosomes, present in two copies in females (XX) and one copy in males (XY), and carrying genes that determine sex and other traits.

Y-Chromosome

A sex chromosome, typically present in males, responsible for determining male biological characteristics.

Sex-Linked Abnormalities

Genetic disorders that are associated with the sex chromosomes, often leading to disease or condition manifesting predominantly in one sex.

Dominant-Recessive Pattern

A genetic principle where one allele is dominant over another allele for a particular trait, determining the organism's appearance.