A Contract That One Party Retains the Exclusive Right to Cancel

question 49

True/False

A contract that one party retains the exclusive right to cancel at any time is unenforceable.

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Definitions:

Straight Voting

A voting system for electing directors where shareholders must vote for each board position individually, allowing majority shareholders to dominate elections.

Cumulative Voting

Cumulative Voting is a voting system that allows shareholders to allocate their votes in a flexible manner among one or more candidates during the election of a company's directors, enhancing minority shareholders' representation.

Growing Perpetuity

A constant stream of cash flows without end that is expected to rise indefinitely.