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Brothers Inc., a partnership, consisted of three partners Jessie, Mark, and Jake. However, Jessie was declared bankrupt at a time the company suffered considerable losses. Which of the following is likely to be true?
Breach of Contract
The failure, without legal excuse, to perform any promise or fulfill any term of a contract or agreement.
Compensatory Damages
Financial compensation awarded to a plaintiff to offset losses or injuries incurred due to the defendant's actions or negligence.
Nonbreaching Party
The party in a contract who has not violated the agreement terms.
Express Warranty
A clear, affirmative promise or assurance by a seller about the quality or nature of a product or service.
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