Jameson and French Entered into a Contract in Which Jameson

question 33

Multiple Choice

Jameson and French entered into a contract in which Jameson was required to deliver merchandise to French by January 19. On January 5, Jameson told French that he (Jameson) had no intention of delivering the merchandise required by the contract. Prior to January 19, French may successfully sue Jameson for

• A) accord and satisfaction.
• B) substantial performance.
• C) liquidated damages.
• D) anticipatory breach.

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Definitions:

Price-Elasticity Coefficient

A gauge for understanding how the quantity of a product demanded reacts to price adjustments.

Sales Quantity

The total number of units of a product or service sold within a specific period.

Demand Schedule

A table that shows the quantity of a good or service that people will purchase at various prices over a specified period.

Total Revenues

The total income received by a firm from its sales of goods or services, calculated by multiplying the selling price by the quantity sold.