Composition Agreements Are

question 39

Multiple Choice

Composition agreements are:

• A) made in a way that allows the promisor to decide whether or not to perform the promise.
• B) agreements between a debtor and two or more creditors who agree to accept a stated percentage of their liquidated claims against the debtor at or after the due date.
• C) agreements entered into when someone promises not to file a legal suit in exchange for a promise to pay a certain sum of money or some other consideration.
• D) generally treated as non-binding on the parties to the agreement because of the fact that doing so appears to be contrary to the general rule on liquidated debts.

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Definitions:

Long List Of Words

A sequence or collection of words that is notably extensive, often used in contexts requiring detailed descriptions or exhaustive enumerations.

Grouping Items

The cognitive process of organizing objects, ideas, or information into categories for easier understanding and retrieval.

Recall

The act of retrieving information or events from memory without having been explicitly prompted to do so.

Basic Memory Processes

The fundamental operations involved in memory, including encoding, storage, and retrieval of information.