Which of the Following Is NOT True About How a Breach

question 16

Multiple Choice

Which of the following is NOT true about how a breach may occur?

• A)Jack may breach the contract by acting in a manner that makes his promise impossible to perform.
• B)Jack may breach a contract by expressly repudiating his liabilities.
• C)Jack may breach a contract by calling James and advising him that he will be ten minutes late in arriving at the home of James to start painting the home.
• D)Jack may breach a contract by tendering an actual performance that falls short of his promise.
• E)Jack may breach a contract by failing to perform all his obligations.

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Definitions:

Controlling Influence

The power to govern the financial and operating policies of an entity so as to obtain benefits from its activities, often through ownership or agreement.

Equity Securities

Equity Securities are financial instruments that represent ownership interest in a company, such as stocks, entitling the holder to a share of the entity's profits and assets.

Investor

An individual or entity that allocates capital with the expectation of receiving financial returns.

Long-Term Investments-AFS

These are long-term investments in 'Available for Sale Securities' that a company has, which can be sold in the future.