Total Float Consists of Each of the Following Elements EXCEPT

question 151

Multiple Choice

Total float consists of each of the following elements EXCEPT

• A) mail float.
• B) processing float.
• C) transit float.
• D) audit float.

---

Definitions:

Anticipatory Repudiation

Occurs when one party indicates by words or actions that they will not fulfill their contractual obligations in the future.

Divisible Contract

A contract that includes multiple agreements or parts, which can be separated so that the failure to perform one part does not necessarily breach the entire contract.

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.