The Definition of "Discharge by Breach" Is

question 47

Multiple Choice

The definition of "discharge by breach" is:

• A)performance that is incomplete but that does not defeat the purpose of the contract but entitles the injured party to damages.
• B)wrongful failure to perform the terms of a contract that gives rise to a right to damages by the injured party.
• C)a breach that prevents performance by either party.
• D)None of the above.

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Definitions:

Net Method

An accounting method that records purchases after deducting any available discounts, directly showing the net purchase cost.

Credit Terms

Conditions under which credit will be extended to a customer, including repayment timeframe and interest rate.

Merchandise Inventory

Goods a company has in stock and available for sale, typically in a retail or wholesale setting.

Inventory Shrinkage

The loss of products between purchase and sale, often due to theft, damage, or errors in counting.