The Effect of the Doctrine of Substantial Performance Is That

question 36

Multiple Choice

The effect of the doctrine of substantial performance is that

• A) where there is substantial performance a court will not entertain a suit for damages for breach of contract.
• B) the promisor who has substantially performed a contract is entitled to damages.
• C) where there is substantial performance, a court will entertain a suit for damages for breach of contract.
• D) a promisee cannot seize upon a trivial failure of performance to avoid his or her obligations under a contract.
• E) the promisee who has substantially performed a contract is entitled to damages.

Evaluate the liability issues of accountants under the 1933 Securities Act regarding misleading registration statements.

List the services that are prohibited for accounting firms to perform for audit clients under the Sarbanes-Oxley Act.

Understand the legal and ethical considerations regarding the confidentiality of client information obtained by accountants.

Identify the requisite elements of fraud within financial transactions and accounting practices.

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Definitions:

Humid Days

Days characterized by a high level of moisture or water vapor in the atmosphere, often feeling much hotter due to the reduced effectiveness of sweating.

Polonium

A rare and highly radioactive metalloid with the chemical symbol Po, used in research and sometimes in anti-static devices.

Radioisotopes

Atoms that have excess nuclear energy, making them unstable and radioactive.