Breach of One Installment of an Installment Contract Necessarily Gives

question 11

True/False

Breach of one installment of an installment contract necessarily gives the non-breaching party the right to cancel the whole contract.

---

Definitions:

Net Income

The amount of money that remains from revenues after all expenses, taxes, and costs have been subtracted; a measure of profitability.

Net Profit Margin Ratio

A financial ratio indicating the percentage of net income generated from total revenue.

Balance Sheet

A statement of finance that shows a corporation's assets, liabilities, and owner's equity at a specific moment.

Balance Sheet

An accounting record that outlines a business's assets, obligations, and equity of shareholders at a designated time.