A Concurrent Condition Arises When

question 1

Multiple Choice

A concurrent condition arises when:

• A) it terminates an already existing duty of performance.
• B) it makes a difference to the promisee when the promisor acts on time.
• C) it is unexpressed but understood to be part of the contract.
• D) the duty to perform the contract is simultaneous.
• E) the condition is stated in words in the contract, orally or written.

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Definitions:

Tax Deduction

A reduction in taxable income, which can lower the total tax bill, allowed for certain expenses or investments.

Discount Rate

The interest rate used in discounted cash flow analysis to present future cash flows in terms of their value today.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return.

Cash Inflows

Money received by a company during a given period, including revenues, investment returns, loans, and other forms of financing.