It Is Generally Agreed That

question 7

Multiple Choice

It is generally agreed that

• A) the financial system would be more efficient if intermediaries were eliminated.
• B) small- and medium-sized firms benefit by the actions of intermediaries.
• C) the addition of intermediaries adds to transactions costs.
• D) intermediaries should not seek to profit from reducing transactions costs.

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Definitions:

Implied-In-Fact Condition

A legal concept where the obligations or conditions of a contract are not explicitly stated but can be inferred from the nature of the agreement and the actions of the parties involved.

Express Condition

A provision in a contract that must be met as a prerequisite for performance or fulfillment of the contract terms.

Anticipatory Repudiated

Anticipatory Repudiation occurs when one party to a contract indicates they will not fulfill their contractual obligations before they are due to perform.

Breach Of Contract

The violation of any agreed-upon terms or conditions in a contract without lawful excuse.