In the Case of Discharge by Performance,the Parties Are Discharged

question 40

True/False

In the case of discharge by performance,the parties are discharged from any obligations provided that performance corresponds exactly with the terms of the contract.

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Definitions:

Personal Trust

A legal arrangement where assets are managed by a trustee for the benefit of another party, based on trust and confidence.

Defined Benefit

A type of retirement plan that promises a specified monthly benefit at retirement, which can be determined by factors such as salary history and duration of employment.

Pension Plan

A retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit. The pool of funds is invested on the worker's behalf, and the earnings on the investments generate income to the worker upon retirement.

Risk Aversion

A trait or behavior exhibited by investors who prefer to avoid risk, choosing safer investments over riskier ones.