Which of the Following Best Describes a Breach of Contract

question 6

Multiple Choice

Which of the following best describes a breach of contract?

• A) a situation in which one or both parties to a contract do not perform their duties
• B) a situation in which both the parties agree to substitute the existing contract
• C) a situation in which an intended beneficiary holds a party liable for not performing to his satisfaction
• D) a situation in which one or both parties intend to assign the benefits to a third party

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Definitions:

Production Technology

The methods, processes, and equipment used in the production of goods and services.

Market Quantity Supplied

The total amount of a specific good or service that is available for purchase in a market at a given price.

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the total quantity of the good supplied by all suppliers at each price level.

Market Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to purchase at various prices.