Which of the Following Is True of the Period During

question 28

Multiple Choice

Which of the following is true of the period during which parties can file a lawsuit for breach of a sales contract?

• A)The parties can extend it for a period longer than six years after the breach occurs.
• B)The parties to a contract may shorten this period to one year after the breach occurs.
• C)The parties are free to determine the period during which the lawsuit can be filed.
• D)The lawsuit must be filed within two years after the breach occurs.

---

Definitions:

Securities and Exchange Commission

The Securities and Exchange Commission (SEC) is a U.S. federal agency responsible for regulating the securities industry and protecting investors by enforcing laws against market manipulation.

Chief Financial Officer

The senior executive responsible for managing the financial actions of a company, including financial planning, risk management, and financial reporting.

Certify

To officially recognize, verify, or endorse something as true, valid, or in compliance with a standard.

Federal Law

Legislation enacted by the national government of a country and applicable throughout its jurisdiction.