Which of the Following Is True with Respect to Substantial

question 42

Multiple Choice

Which of the following is true with respect to substantial performance?

• A) It is not used in the construction industry.
• B) Substantial performance is performance that, though incomplete, does not defeat the purpose of the contract.
• C) When one party to a contract has substantially performed, the other party cannot recover damages for the imperfect performance.
• D) An express condition need only be substantially performed.

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Definitions:

Pricing Infatuation

An obsession or excessive focus on the pricing aspect of a product or service rather than its value or other attributes.

Price Cutting

A competitive strategy whereby a company lowers its product prices to attract customers and increase market share.

Sales Volume

The total number of units of a product sold within a specific time period.

Component Parts

The elements or individual items that, when combined, form a complete product or system.