Which of the Following Describes Conditions That Are Not Explicitly

question 15

Multiple Choice

Which of the following describes conditions that are not explicitly stated but are inferred from the nature and language of the contract?

• A) Express
• B) Implied
• C) Conditional
• D) Concurrent
• E) Both express and conditional

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Definitions:

Unearned Fees

Unearned fees are payments received by a company for services yet to be provided or completed, considered a liability until the service is fulfilled.