| A | B |
|---|
| A promise that is not binding | illusory |
| The part of a contract that allows businesses to withdraw if their cirumstances change | termination clause |
| A contract that requires a buyer to purchase all of a producer’s production | output |
| A contract that requires a seller to supply all the needs of a buyer | requirements |
| The debt that occurs when parties agree to the existence & amount of debt | liquidated |
| The type of agreement that exists if two parties compromise on the amount of a debt | accord or satisfaction |
| a settlement made by parties when the liability is unliquidated | release |
| a group of creditors who agree to accept less than what they are entitled to from a debtor | composition |
| a person to whom a debt is owed | creditor |
| The implied duty that both parties have under contracts containing termination, output, or requirements clauses | fair dealing |
