Zinedine Entered into a Contract with Sporting Press Inc to Write

question 6

Multiple Choice

Zinedine entered into a contract with Sporting Press Inc to write an instructional book about soccer.Under the terms of that agreement,he was required to deliver the manuscript of the book to the company by December 31.On October 1,however,Zinedine telephoned Sporting Press and explained to the editor that,due to other commitments,he would not be able to perform his obligations on schedule.Which of the following statements is TRUE?

• A)Sporting Press must discharge the contract now or never,since it is not entitled to wait until December 31 before it makes its decision.
• B)Unless the parties agreed otherwise,the time of Zinedine's performance was of the essence.
• C)Sporting Press is entitled to demand performance,but it cannot force Zinedine to pay damages.
• D)If Sporting Press does not respond to Zinedine's statement,a court will assume that the contract has been discharged.
• E)Zinedine has committed an anticipatory breach.

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Definitions:

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The capital gain on a stock divided by the price at which it was purchased.

Future Earnings

Expected future profits of a company, often used to assess its valuation or the potential return on investment.

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