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Contract closure by mutual agreement or breach of contract is called contract closeout.
Suggested Answer: B
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21 comments · newest first
KI
King
10 months ago
Yep, breach or mutual agreement, it's still closeout!
JA
Jamal
11 months ago
Wait, are you sure about that? Sounds off.
DA
Dalene
11 months ago
Totally agree, it's all about how the contract ends.
SY
Sylvie
11 months ago
I thought it was only for mutual agreements.
QU
Quiana
11 months ago
That's true, closeout happens in both cases.
CA
Carrol
12 months ago
I thought contract closeout was only about mutual agreement, but now I'm confused if breach counts too.
LI
Lina
12 months ago
I feel like contract closeout is more about the completion of terms rather than just agreement or breach.
BE
Belen
12 months ago
I remember a practice question that mentioned contract closeout, but I can't recall if it was specifically about mutual agreement or breach.
GA
Gail
1 year ago
I think contract closeout refers to both mutual agreement and breach, but I'm not entirely sure if that's the correct definition.
TE
Teddy
1 year ago
This seems straightforward. Contract closeout is the term used when a contract is closed due to mutual agreement or breach, as opposed to other reasons for contract closure.
MO
Moira
1 year ago
Wait, I'm a little confused. Is contract closeout the same as contract closure, or is it a specific type of contract closure? I'll need to review my notes to be sure.
LE
Leah
1 year ago
Okay, I think I've got this. Contract closeout specifically refers to closure by mutual agreement or breach, as opposed to other ways a contract can be closed.
KE
Kerrie
1 year ago
Hmm, I'm not sure about this. I'll have to think it through carefully to make sure I understand the difference between contract closeout and other contract closure methods.
FR
Francesco
1 year ago
I'm pretty confident about this one. Contract closeout is the term for contract closure by mutual agreement or breach of contract.
AL
Alberta
2 years ago
Why do you think it's false, Vivan?
VI
Vivan
2 years ago
False. I think it's the opposite.
AL
Alberta
2 years ago
True. It makes sense to me.
GA
Gary
2 years ago
Haha, this question is a piece of cake! B is the obvious answer. Closeout and termination are totally different things.
SH
Shizue
2 years ago
I'm pretty sure the correct answer is B. Contract closure by mutual agreement or breach of contract is called contract termination, not contract closeout.
NI
Nida
2 years ago
B) False
EU
Eugene
2 years ago
A) True