Nicholas Bowman Has a Savings Account with $825 in It

question 26

Multiple Choice

Nicholas Bowman has a savings account with $825 in it.He knows that he can easily withdraw this money and spend it whenever he wishes.This would be an example of:

• A)money management.
• B)a personal possession.
• C)a limited asset.
• D)a liquid asset.
• E)net worth analysis.

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Definitions:

Tendered Performance

The act of offering or presenting for acceptance a performance of obligations under a contract.

Minor Contractual Term

A less important condition or provision of a contract that does not go to the heart of the agreement.

Anticipatory Breach

A situation where one party indicates by words or actions that they will not fulfill their contractual obligations.

Performance Risk

The possibility of a party failing to fulfill their obligations under a contract, leading to performance failure.