If There Is a Conflict Between the Express Terms of the Contract

question 66

True/False

If there is a conflict between the express terms of the contract and the past course of dealing between the parties,the express terms of the contract prevail.

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Definitions:

Goodwill

An intangible asset representing the excess value paid for a company over its net assets at the time of acquisition.

Patent

A legal document granted by the government providing an inventor exclusive rights to manufacture, use, or sell an invention for a certain number of years.

Trade Name

A commercial name or designation used to identify a company or product in the market, which may or may not be registered as a trademark.

Exchange Transaction

A trade or swap of goods, services, or financial assets in the business or financial markets.