10 Questions
What happens to the obligation when a term or period is left to the will of the debtor?
The obligation remains = The existence and validity of the obligation remains The obligation is terminated = The obligation is extinguished Rescission is not an option = Rescission is not available as a remedy Not agreed upon = It shall be considered as not having been agreed upon
What is the consequence when a term or period is left to the will of the debtor?
Obligation is void = It shall be considered as not having been agreed upon Obligation remains valid = The existence and validity of the obligation remains No remedy available = Rescission is not available as a remedy Obligation is terminated = The obligation is extinguished
When a debtor has control over a term or period, what can be said about the obligation?
It remains in effect = The existence and validity of the obligation remains It is cancelled = The obligation is extinguished No rescission possible = Rescission is not available as a remedy Not considered valid = It shall be considered as not having been agreed upon
What happens when a debtor has discretion over a term or period?
The obligation remains = The existence and validity of the obligation remains The obligation ends = The obligation is extinguished Rescission is unavailable = Rescission is not available as a remedy Not considered valid = It shall be considered as not having been agreed upon
What is the result when a debtor has control over a term or period?
Obligation remains valid = The existence and validity of the obligation remains Obligation ends = The obligation is extinguished Rescission is not possible = Rescission is not available as a remedy Not a valid obligation = It shall be considered as not having been agreed upon
What is the status of the obligation if the debtor has control over a term or period?
The obligation remains in existence and is valid.
If a term or period is left to the debtor's discretion, what can be said about the obligation?
It is still valid and enforceable.
What happens to the obligation if the debtor has the power to decide on a term or period?
The obligation remains in effect.
If a debtor has control over a term or period, what can be said about the remedy of rescission?
Rescission is still available as a remedy.
What is the effect on the obligation if the debtor has the power to decide on a term or period?
The obligation remains valid and enforceable.
Learn about the implications of a term or period left to the will of the debtor on the existence and validity of an obligation. Understand the different scenarios that can arise in such situations. Test your knowledge of contract law and debt obligations.
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