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JMR Ltd.purchased $100,000 of bonds convertible into common shares at a price of $50.The bonds have a maturity date of 20x4.On the maturity date,the market price of the common shares is $45.Assuming that JMR Ltd.is a knowledgeable investor,what will the company do?
Discharging
The process of fulfilling or settling a debt, obligation, or legal liability, effectively freeing one from the responsibility.
Judgment
A decision of the court.
Conditions Precedent
Contractual stipulations that must be met before a contract becomes effective or before an obligation must be fulfilled.
Frustrated Contract
A contract that, through no fault of either party, is rendered incapable of being performed due to an unforeseen event, leading to the contract being void and freeing all parties from their obligations.
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