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

question 15

Multiple Choice

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

• A) not discharge either party from further duty of performance under the contract.
• B) be treated as a repudiation, excusing the tendering party from further duty of performance under the contract.
• C) be considered a condition subsequent.
• D) None of these.

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Definitions:

Aggregate Planning

A process in operations management focused on developing, analyzing, and maintaining a preliminary, approximate schedule of the overall operations of an organization.

Inventories

Assets that are held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process or in the rendering of services.

Aggregate Plan

A production plan for a medium-term horizon that balances demand and supply, often translating demand forecasts into a production strategy.