Composition agreements are:
A. made in a way that allows the promisor to decide whether or not to perform the promise.
B. 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.
C. 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.
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.
Answer: C
You might also like to view...
Cooking food in a grocery store and giving small pieces of the food to consumers who pass by is which form of sampling?
A) in-store distribution B) direct C) response D) cross-ruffing
Which document is NOT prepared by the sales department?
a. packing slip b. shipping notice c. bill of lading d. stock release
A critical requirement of all learning organizations is that everyone feels and supports a compelling purpose.
Answer the following statement true (T) or false (F)
Suppose that you are investigating the market for aluminum. The price of steel?, a substitute? good, has decreased. Which of the following would best describe the market reaction to this? event?
A. The supply of steel increases since steel firms must produce more steel to make up for the price decrease. B. The demand for aluminum ?decreases, which creates a surplus of aluminum?, causing the price of aluminum to decrease. C. The demand for aluminum ?decreases, creating a shortage and forcing the price of aluminum to increase. D. The supply of aluminum decreases since the price of steel decreases.