Which of the following is true of covenants and conditions?
A) A covenant is a conditional promise to perform.
B) A conditional promise becomes a covenant if the condition is met.
C) A contract cannot contain conditions to excuse performance.
D) A party cannot sue over breach of a covenant by the other party.
B
You might also like to view...
Which one of the following is true of a signature card?
A) It shows each authorized person's signature for a bank account. B) It is the same as a deposit receipt and acts as a proof of the deposit transaction. C) It can be used as a debit card. D) It can only be used for bank accounts of individuals, not for the bank accounts of businesses.
Why would a company undertake a horizontal merger or acquisition?
A. To take advantage of synergies and potential market share gains. B. To increase synergies by merging firms that would be more efficient operating as one. C. To tap into a new market formerly unavailable to one of the companies.