Performance Terms in the Acquisition Agreement Will Usually Not Result

question 35

True/False

Performance terms in the acquisition agreement will usually not result in additional payments as the risks have already passed to the buyer.

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Definitions:

Accident

An unexpected and unintentional incident, often causing injury or damage.

Restrictive Covenant

A clause in a contract or deed that limits what the owner of the property can do with it, often to preserve the value of adjacent land.

Minor

A person who is below the age of majority, legally considered a child and, in many contexts, does not have the full legal rights of an adult.

Public Policy

The public good; some acts, although not illegal, will not be enforced by the courts because they are socially distasteful (against public policy).