Refusal of a Tender of Performance by One Party to a Bilateral

question 72

Multiple Choice

Refusal of a tender of performance by one party to a bilateral contract will:

• A) be treated as a repudiation, excusing the tendering party from further duty of performance under the contract.
• B) not discharge either party from further duty of performance under the contract until 30 days past the term of the contract.
• C) be considered a condition subsequent.
• D) render the contract void.

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Definitions:

Financing Activities

Transactions and events where funds are raised for the company, which may include issuing stocks, bonds, or taking out loans, affecting the equity and debt of the business.

Cash Flow

A measurement of the net amount of cash and cash-equivalents being transferred into and out of a business.

Common Stock

A form of corporate equity ownership, a type of security representing ownership in a corporation and a claim on part of the corporation's profits.

Statement of Cash Flows

A financial overview showing the cumulative cash inflows from a company's daily operations and investment receipts, against the total cash outlays for operational and investment expenditures during a nominated period.