A Buyer's Cancellation of a Contract Based on the Seller's

question 6

Multiple Choice

A buyer's cancellation of a contract based on the seller's anticipatory repudiation is effective:

• A) only if the buyer expressly notifies the seller of the cancellation.
• B) if the cancellation precedes the seller's attempt to retract her repudiation.
• C) only if bond has been obtained.
• D) All of these are correct.

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Definitions:

Economy Recovers

The process by which an economy returns to a state of growth or improves in its indicators after a period of recession or decline.

Trade Deficit

Occurs when a country's imports exceed its exports during a given time period, indicating an outflow of domestic currency to foreign markets.

Imports and Exports

Economic transactions involving the buying of goods and services from foreign countries (imports) and selling domestically produced goods and services to foreign countries (exports).

Eurozone

The 19 nations (as of 2019) of the 28-member (as of 2019) European Union that use the euro as their common currency. The eurozone countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.