Tender of Performance Is When a Party Is Ready, Willing

question 39

True/False

Tender of performance is when a party is ready, willing, and able to perform its obligations and attempts to do so.

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Definitions:

Innkeeper's Lien

A legal right allowing innkeepers to hold, or even sell, a guest's property as security for unpaid lodging bills.

Statutory Lien

A right to keep possession of property belonging to another until a debt owed by that person is discharged, created by statute.

Possessory Lien

A legal right allowing an individual to retain possession of property until a debt owed by the property owner is paid.

Artisan

A skilled craft worker who makes or creates things by hand that may be functional or strictly decorative.