The Only Way That a Party Can Discharge a Contract

question 21

True/False

The only way that a party can discharge a contract is by performance.

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Definitions:

Accounts Receivable

Money owed to a company by its customers for products or services delivered on credit.

Current Liabilities

Financial obligations or debts a company is expected to pay within a year.

Inventory

A complete list of items, such as goods in stock, held by a business to fulfill customer demand.

Debt Ratio

A financial ratio that measures the extent of a company's leverage, calculated by dividing total liabilities by total assets.