The Payback Rule States That a Project Is Acceptable If

question 57

True/False

The payback rule states that a project is acceptable if you get your money back within a specified period.

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Definitions:

Accord And Satisfaction

An agreement for payment (or other performance) between two parties, one of whom has a right of action against the other. After the payment has been accepted or other performance has been made, the “accord and satisfaction” is complete, and the obligation is discharged.

Legal Claim

A formal assertion by a party that they are entitled to some legal right or remedy.

Enforceable

Capable of being imposed or upheld by legal process or authority.

Release

A contract in which one party forfeits the right to pursue a legal claim against the other party.