Bill enters into a contract with Simon to rework the flooring in Simon's house. Bill later realizes that he will be unable to fulfill the terms of the contract and communicates this to Simon
Both parties agree that George will rework the floor instead of Bill as stated in the original contract. This type of discharge of contract is described as ________.
A) accord and satisfaction
B) novation
C) substituted agreement
D) compromise agreement
B
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Luxottica is an Italia eyewear production company. During its business expansion, Luxottica's acquisition of eyewear stores (e.g., Lens Crafter, Sunglass Hut) has helped itself gain competitive advantage through ___________.
A. building a powerful market position B. building core competency C. creating product differentiation D. avoiding asset specificity
Which of the following statements regarding the grace period for life insurance is NOT correct?
A) It is usually shorter than 30 days. B) It can vary according to the particular policy. C) It begins the date the premium is due. D) The overdue premium plus interest (if there is a loan) may be deducted from any death claim that occurs during the grace period."