Staying Power Refers to The

question 13

Multiple Choice

Staying power refers to the:

• A) relative abilities of parties in a situation to exert influence over each other.
• B) energy demands required to run a product or service.
• C) ability of a firm to produce a good or service at a lower opportunity cost than a rival.
• D) long-term viability of a product or service.
• E) ability to take advantage of complementary products developed for a prior generation of technology.

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Definitions:

Cure

A breaching party’s right to provide conforming goods when nonconforming goods were initially delivered; subject to a reasonable time test.

Perfect Tender Rule

A legal principle in commercial law that sellers must deliver goods that exactly meet the terms of the contract without any deviation.

Material Breach

A substantial breach of a significant term or terms of a contract that excuses the nonbreaching party from further performance under the contract and gives the nonbreaching party the right to recover damages.

Partially Destroyed

Refers to property or goods that have been damaged but not completely ruined, retaining some value or use.