Polaroid's Bankruptcy Filing Is an Example of a Failure Due

question 9

Multiple Choice

Polaroid's bankruptcy filing is an example of a failure due to

• A) business cycle downturn
• B) corporate maturity
• C) poor financial actions
• D) illiquidity

---

Definitions:

Statute of Frauds

A legal doctrine requiring certain contracts to be documented in writing and officially signed, aimed at preventing fraudulent claims and enforcing agreements.

Oral Contract

An agreement between parties that is spoken and not written, yet is legally binding under certain conditions.

Indefinite Period

A time span without a specified end date.

Merger Clause

A contract clause providing that the written contract is the complete expression of the parties’ agreement. Also called integration clause.