Fact Pattern 18-2 Flora, Who Owns and Operates Garden Fresh Organic Farms, Agrees

question 72

Multiple Choice

Fact Pattern 18-2
Flora, who owns and operates Garden Fresh Organic Farms, agrees to sell Harvesters Grocery a minimum quantity of fresh fruits and vegetables every week for three months.
-Refer to Fact Pattern 18-2. ​If Flora dies before the deliveries begin, her contract with Harvesters is

• A) ​breached.
• B) ​discharged.
• C) ​not affected.
• D) ​suspended.

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Definitions:

Equity

The value of an owner's interest in a property or a company, after all debts and other obligations have been accounted for.

Accounting

The systematic process of recording, reporting, and analyzing financial transactions of a business.

Information Age

A period in human history characterized by the shift from traditional industry to an economy based on information technology.

Separate Legal Entity

A status that allows a company to operate as its own legal entity, distinct from its shareholders, with rights to sue, be sued, own assets, and incur liabilities.