ONEROUS CONTRACT Definition

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ONEROUS CONTRACT is one in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits to be received under the contract.

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POST DATE is placing on a document or a check a date that follows the date of the initiation or execution of the document. For example, a post dated check cannot be cashed until the date written on the check.

ORDERLY LIQUIDATION VALUE is the liquidation value at which the asset or assets are sold over a reasonable period of time to maximize proceeds received.

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