Felipe Agrees to Work as Gary's Personal Accountant for One

question 58

Multiple Choice

Felipe agrees to work as Gary's personal accountant for one year but dies in the sixth month of the contract.Felipe's estate

• A)is discharged from any contractual liability.
• B)must find a competent accountant to fulfill the contract.
• C)must pay liquidated damages.
• D)must refund any money paid to Felipe on the contract.

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Definitions:

Monthly

Occurring, produced, or done each month.

Simple Interest Rate

The rate at which simple interest is paid or earned over a certain period, typically expressed as a percentage.

Days

Units of time equivalent to 24 hours, representing the approximate period it takes for the Earth to complete one rotation on its axis.

Grow

To increase in size, amount, or intensity over time.