When a Party to a Contract Notifies the Other Party

question 10

Multiple Choice

When a party to a contract notifies the other party that it will not perform the contract as agreed,this conduct is referred to as

• A)specific performance.
• B)cover.
• C)repudiation.
• D)assurance.

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Definitions:

Institutionalized

The process of embedding something, such as a concept, practice, or societal norm, into an organization, social system, or society as a whole.

Void

A legal term indicating that a contract or action is invalid and has no legal effect.

Emancipation

The termination of a parent’s right to control a child and receive services and wages from him or her.

Formal Agreement

A legally binding contract or document that explicitly outlines the terms and conditions agreed upon by the parties.