The_____ shortfall could also results in defaults on contracts or even bankruptcy
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Explanation:
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The debt money shortfall could also result in defaults on contracts or even bankruptcy
Explanation:
- The failure of paying the loan money or the interest payment by a business organisation can lead to major debt defaults. These eventually lead to defaulting on the contracts and can even lead to bankruptcy of the firm.
- Every contract is bound by certain legal obligations which are required to be fulfilled. Any form of violation of the contract can lead to termination of the contract due to defaulting.
- The financial shortfalls are major reasons of defaults and they lead to defaults on contracts. It leads to breach of contract and the contract is terminated. It is based on payment of debt which is due and is not able to fulfill the requirements mentioned in the contract.
To know more about default on contracts
Under which section of the contract act defines a contract of guarantee as: a contract to perform the promise, or discharge the liability of a third person in case of his default?
https://brainly.in/question/15404594
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