Which of the Following Statements Is True of the Performance

question 14

Multiple Choice

Which of the following statements is true of the performance of a contract?

• A) Strict performance by a party discharges that party's duties under the contract.
• B) Inferior performance constitutes a minor breach of contract.
• C) Substantial performance constitutes a material breach.
• D) A performance is said to have occurred if one of the parties do not perform their duties as specified in the contract.

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Definitions:

Leased Premises

Property that is rented under a lease agreement, typically for commercial or residential use.

Continue to Pay

"Continue to Pay" typically refers to an agreement or clause where an individual or entity agrees to keep making payments until a specified condition is met, often found in financial or service agreements.

Leased Property

Real estate or personal property that is rented under the terms of a lease agreement between the owner and the lessee.

New Owner

A term referring to an individual or entity that has recently taken possession or control of an asset or property.