When a Party Expressly Declares Before the Time for Performance

question 46

True/False

When a party expressly declares before the time for performance arrives that the contract will not be performed, such a declaration is called an anticipatory repudiation.

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Definitions:

External Locus

A psychological attribute where individuals believe that their life events are mainly controlled by external forces or fate rather than their own actions.

Adaptation-level Phenomenon

A psychological principle stating that individuals adjust their expectations based on past experiences, which influences how they perceive new stimuli or situations.

Life Expectancy

The average period that an individual is expected to live, based on statistical averages of age, sex, and other demographic factors.

Religious Involvement

Participation in or commitment to practices, beliefs, or activities associated with a faith or spiritual community.