Vicarious Performance Is Where

question 49

Multiple Choice

Vicarious performance is where

• A)a third party performs an obligation in place of another person who is ultimately liable for proper performance.
• B)an employee performs an obligation in place of another employee and the performing employee is liable for proper performance.
• C)parties to a contract enter into another agreement that has the effect of transferring the liability to perform to a third party.
• D)an employer performs an obligation in place of its employee and is liable for proper performance.
• E)parties to a contract agree to terminate a contract and substitute a new contract in place of the old one.

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Definitions:

Government

The system or group of people governing an organized community, often a state, and the authority to make and enforce laws.

Free Lunch

An expression denoting the idea that it is impossible to get something for nothing, highlighting the concept of trade-offs in economics.

Tradeoffs

Refers to the compromise or balance achieved between two desirable but incompatible features, a fundamental concept in decision-making and economics.

Incentives

Are extrinsic or intrinsic rewards or penalties for performing an action or refraining from one, motivating behavior change.