Contracts Cannot Be Terminated by Operation of Law

question 12

True/False

Contracts cannot be terminated by operation of law.

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Definitions:

Employee Claims

Rights or demands made by workers against their employer for various benefits, compensation, or acknowledgments of rights or wrongs.

Unpaid Taxes

Taxes that are owed to the government but have not been paid by the due date.

Customer Deposits

Funds paid in advance by customers for goods or services that have yet to be delivered or performed.

Chapter 7 Bankruptcy

A form of bankruptcy in the United States that involves liquidating the debtor's assets to pay off as much debt as possible, with the remaining debts being discharged.