If the Goods Required for the Performance of a Contract

question 12

True/False

If the goods required for the performance of a contract are destroyed without fault of either party prior to the time the risk of loss passed to the buyer, then the contract is voided.

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Definitions:

Minimum Period

The shortest allowable or required duration for a particular action, event, or condition to take place or remain in effect.

Consolidated Omnibus Budget Reconciliation Act

A federal law providing individuals and their families the option to continue health care coverage under their group health plan in certain instances where coverage would otherwise end.

Social Security Act

A law enacted in 1935 to create a system of transfer payments in which younger, working people support older, retired people.

Health Insurance Coverage

A type of insurance that covers the whole or a part of the risk of an individual incurring medical expenses, spreading the risk over many individuals.