What Is an Anticipatory Breach

question 25

Essay

What is an anticipatory breach?

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases.

Income Increases

The rise in the amount of money received, typically on a regular basis, for work or through investments.

Law of Demand

A principle stating that, all else being equal, as the price of a good or service increases, the quantity demanded decreases, and vice versa.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where demand and supply are equal.