The Principle of Substantial Performance Can Best Be Described as When

question 98

Multiple Choice

The principle of substantial performance can best be described as when

• A) all or most of the contractual obligations are fulfilled.
• B) a major term of the contract is mostly fulfilled.
• C) minor terms of the contract are yet to be fulfilled.
• D) minor terms of the contract are disregarded.
• E) only exact compliance with the contract will qualify as performance.

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Definitions:

Restatements

Codifications of the common law intended to clarify and illustrate principles and rules in various areas of law, published by the American Law Institute.

Common Law

A legal system based on custom, court rulings, and past legal precedents rather than statutory laws.

Procedural Law

The body of law controlling public bodies such as courts, as they create and enforce rules of substantive law.

Private Law

A branch of law that deals with matters between private individuals or institutions, rather than involving the state.