John Contracts with Kelly to Buy a Certain Number of Cattle

question 37

Multiple Choice

John contracts with Kelly to buy a certain number of cattle for Kelly's Circle K ranch. John makes a deal with Lawson, the owner of a local herd, and makes a down payment. Kelly fails to pay the rest of the price. Lawson sues John for breach of contract. John's right to hold Kelly liable for any damages that he has to pay is the right of​

• A) ​compensation.
• B) ​cooperation.
• C) ​indemnification.
• D) ​reimbursement.

---

Definitions:

Members

Individuals who are formally part of an organization, group, or body, often with specific rights and responsibilities.

Right of First Refusal

A contractual right that gives its holder the option to enter a business transaction with the owner of something before the owner is entitled to enter into that transaction with a third party.

Share Certificate

A physical document issued by a company that certifies ownership of a specific number of shares or stock in that company.

Shareholder

An individual or entity that owns shares in a corporation, holding a portion of the company's stock and potentially influencing its governance.