Question

Either party may terminate this Agreement immediately upon the occurrence of any one or more of the following events: (i) the other party fails to pay when due any amounts required to be paid under this Agreement; (ii) the other party breaches any material term or provision of this Agreement; or (iii) the other party becomes insolvent, makes an assignment for the benefit of its creditors, institutes or becomes subject to any proceeding under any bankruptcy or similar laws for the relief of debtors, or seeks the appointment of, or becomes subject to the appoint of, any trustee or receiver for all or any portion of such party's assets.

In section 3 “Term and Termination,” what is NOT a condition for termination of the contract?
A) insolvency or bankruptcy of either party
B) failure to pay any amounts due by either party
C) dissatisfaction with goods or services by either party
Eliminate
D) breach of material provisions of the agreement by either party

Submit

Answer 1

Dissatisfaction with goods or services by either party is the condition not given in the termination of the contract.

Answer: Option C.

Step-by-step explanation:

When coming in a business deal of one party with the other, there are certain terms and conditions which are agreed upon by both the parties which are written on the contract. These terms and conditions are the rules that are to be followed by and they avoid any kind of confusion or conflict that might occur in the business.

Certain terms and conditions which are present on the contract are insolvency or bankruptcy of either party, failure to pay any amounts due by either party, breach of material provisions of the agreement by either party and so on.