Courts May Imply Conditions from the Purpose of a Contract

question 19

True/False

Courts may imply conditions from the purpose of a contract or from the intent of the parties.

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Definitions:

Trustee

A trustee is an individual or organization that holds or manages property or assets for the benefit of another, usually under the terms of a trust agreement.

Voluntary Petition

A legal document filed by an individual or business entity declaring their intention to undergo bankruptcy proceedings under their own accord.

Claim

A claim is a demand for something due or believed to be due, typically a request for payment in relation to a debt or an insurance policy.

Creditor

An individual or entity that is owed a debt or other obligation by another individual or entity, known as the debtor.