Which of the Following Is False with Regard to Ending

question 110

Multiple Choice

Which of the following is false with regard to ending a contract by performance, agreement, or breach?

• A) A contract can be ended by breach only if there was a breach of condition, not a breach of warranty.
• B) A person has not legally tendered performance if he pays a $500 debt in 25-cent coins.
• C) If a person properly tenders performance of a service that is rejected by the other party, he is not required to try again.
• D) A contract ends by agreement when the parties include in the contract a "condition subsequent," i.e., a clause that says the contract will end upon the happening of a specified future event that then takes place.
• E) If one party to the contract has paid for a service, but now the other doesn't want to perform, the contract is ended by agreement as long as they both agree to call it off.

---

Definitions:

Statutory Amalgamation

A process by which two or more companies legally consolidate into a single entity by statute, rather than by merging their assets and liabilities.

Business Combination

A transaction or event in which an acquirer obtains control of one or more businesses, usually involving the exchange of equity interests or cash.

Equity Method

An accounting technique used by a company to record its investment in another company based on the change in net assets of the investee, reflecting the investor's share of the earnings or losses.

Fair Market Value

The price at which a willing buyer and willing seller would transact, with neither being under any compulsion to buy or sell.