When the Obligations of a Contracted Have Been Performed, the Contract

question 391

Multiple Choice

When the obligations of a contracted have been performed, the contract is:

• A) terminated or discharged
• B) finished or written off
• C) finalized
• D) burned
• E) destroyed

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Definitions:

Normative Statement

Assertions or opinions that express what ought to be, involving value judgments and cannot be tested or verified.

Positive Statement

An objective statement based on factual information that can be tested and validated, often used in economics to describe what is happening without judgment of desirability.

Tax on Beer

A specific tax imposed on the sale of beer, generating revenue for the government and sometimes used to discourage excessive consumption.

College Students

Individuals enrolled in an institution of higher learning to pursue a degree or certification.