Wary Bidders in Low-Price Auctions Can Check The_____ to Protect

question 60

Multiple Choice

Wary bidders in low-price auctions can check the_____ to protect themselves from being cheated.

• A) seller's records
• B) liquidation brokers
• C) escrow services
• D) sniping software

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Definitions:

Breach Of Condition

A violation of a specific condition in a contract that justifies the non-breaching party to terminate the contract and seek compensation.

Implied Repudiation

A situation where one party’s actions or inactions signal a refusal to fulfill their contractual obligations, suggesting an intention to breach the contract despite no explicit declaration.

Express Repudiation

The clear and unequivocal refusal to honor a contract or agreement, effectively declaring one's intention not to perform their contractual obligations.

Quantum Meruit

A legal principle allowing a party to recover costs for services provided when no contract exists, based on the reasonable value of the work.