In Many Cases, an Entity May Have an Implicit Obligation

question 26

Multiple Choice

In many cases, an entity may have an implicit obligation even if it is NOT explicitly noted in a sales contract. This is called a(n)

• A) onerous obligation.
• B) legal obligation.
• C) constructive obligation.
• D) earnings obligation.

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Definitions:

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A powerful discharge of electricity that occurs during a thunderstorm, connecting the earth and a cloud or between two clouds.

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Materials with electrical conductivity between that of a conductor and an insulator, used in the manufacture of electronic devices.

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The component in a photocopier or laser printer that transfers the toner to the paper to produce the printed image.