China Is in an Early State of Development,with a Per

question 101

Multiple Choice

China is in an early state of development,with a per capita income that is still less than ________,one-fifth of the per capita income in the United States.

• A) $5,000
• B) $10,000
• C) $25,000
• D) $50,000

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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.