When a Party to a Contract Does Not Perform as Required

question 64

Multiple Choice

When a party to a contract does not perform as required, there is:

• A) a failure to perform
• B) a breach of contract
• C) a breach of trust
• D) a failure of contract
• E) a rescinding of the contract

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Definitions:

Consumer Surplus

The gap in the aggregate amount consumers are willing and can afford to pay for a service or good versus the aggregate amount paid.

Football Stadium

A large venue designed to host football games along with a wide range of sports and entertainment events.

Consumer Surplus

The variance between a consumer's willingness to pay for a service or product and the actual amount paid for it.

Cotton T-shirts

Garments made from the soft fibers of the cotton plant, noted for their comfort and breathability.