When a Contract Party Materially Alters a Written Contract Without

question 18

True/False

When a contract party materially alters a written contract without consent, the other party must adapt his or her performance accordingly.​

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Definitions:

Issued Stock

Shares of a company that have been allocated and distributed to shareholders.

Preemptive Right

This is a shareholder's right to buy new shares in proportion to their current holdings before the shares are offered to the public, helping to maintain their ownership percentage.

Par Value

The nominal or face value of a bond, share of stock, or other financial instrument, as stated by the issuing company.

Par Value

A nominal value assigned to share certificates, bond certificates, or currency, which has little bearing on its market value.