When a Party Expressly Declares Before the Time for Performance

question 46

True/False

When a party expressly declares before the time for performance arrives that the contract will not be performed, such a declaration is called an anticipatory repudiation.

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Definitions:

Faulty Heuristics

Incorrect or misleading cognitive shortcuts that are used to make decisions or solve problems.

Neurons

Specialized cells within the nervous system that transmit information through electrical and chemical signals.

Visual Information

Data or knowledge that can be received and processed visually, often via illustrations, graphs, images, or video.

Overconfidence Effect

A mental distortion in which a person's belief in their own decision-making abilities exceeds the actual precision of those decisions.