Subjective Impossibility of Performance Can Discharge a Contract

question 7

True/False

Subjective impossibility of performance can discharge a contract.

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Definitions:

Income Statements

A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.

Annual Basis

This term usually refers to the accounting or financial evaluation of certain activities, income, or expenses projected or calculated over the span of a year.

Balance Sheet

A document outlining a corporation's financial standing, detailing assets, liabilities, and equity of shareholders on a given date.

Market Value

The current price at which an asset or a company can be bought or sold in a public market.