If a Buyer Breaches a Contract, the Seller Can Choose

question 24

True/False

If a buyer breaches a contract, the seller can choose to simply cancel the contract.​

---

Definitions:

Split-Off Point

The Split-Off Point is a stage in a production process where multiple products are generated from common inputs, each taking a different processing path thereafter.

Joint Costs

Costs incurred in the process of producing two or more products simultaneously, where the costs cannot be individually attributed to the products until a certain split-off point.

Market Value

The present cost at which a service or asset is available for purchase or sale.

Joint Cost Allocation

The process of distributing shared costs among different products, services, or business units.