Katz Construction Had Agreed to Build an Extension on Oliver's

question 21

Multiple Choice

Katz Construction had agreed to build an extension on Oliver's house starting on May 20. On May 10^th Katz contacted Oliver and said it would not be doing the work as it had current financial problems. This is an example of

• A)a breach of warranty
• B)an anticipatory breach
• C)a minor breach
• D)frustration
• E)a breach of condition

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Definitions:

Loan Syndicates

Groups of lenders or financial institutions that come together to provide large loans to a single borrower, spreading the risk among them.

Inventory Investment

The change in the stock of unsold goods and materials held by a business over a period of time, affecting the overall investment levels in the economy.

Level of Inventory

The quantity of goods that a company has in stock at a specific time.

Borrowing Money

The act of receiving funds from a lender under the agreement to repay the principal amount along with interest or fees over a defined period.