A Material Breach of Contract Discharges the Contract

question 24

True/False

A material breach of contract discharges the contract.

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Definitions:

Balance Of Trade

The difference in value between a country's exports and imports over a specific period, indicating the net earnings from international trade.

Goods

Physical items that are produced for sale and consumption to satisfy human wants, such as food, clothing, and cars.

Services

Intangible products such as healthcare, education, and banking, that provide value or meet needs without producing physical goods.

Dependent

In economic or tax contexts, this refers to someone who relies on another, especially a family member, for financial support and can often be claimed for tax benefits.