Final answer:
There are rules that supersede the need for a 12 month payment history in contingent liabilities. Legal judgments or court orders requiring immediate payment and contractual agreements specifying immediate payment can override the payment history.
Step-by-step explanation:
In the context of contingent liabilities, there are certain rules that can supersede the need for a 12 month payment history. One such rule is when a legal judgment or court order requires immediate payment, regardless of the payment history. For example, if a company is sued and loses the case, they may be required to make a payment to the plaintiff without considering their payment history. Another rule that can supersede the 12 month payment history is when there is a contractual agreement in place that specifies immediate payment, regardless of the payment history. For instance, if two parties sign a contract that includes a clause stating that payment must be made within a certain timeframe, it takes precedence over the 12 month payment history.