Jim Contracted with Kevin to Serve as a Guide for Kevin

question 23

Multiple Choice

Jim contracted with Kevin to serve as a guide for Kevin on his three-week fishing trip to Canada.The contract was made on April 1 with the trip to begin on June 1.On May 1,Kevin notified Jim that he had changed his mind and would be unable to make the trip.He also refused to pay Jim any compensation.In this case:

• A)because the contract is executory, Jim has suffered no damages, and Kevin has no obligation to pay any compensation.
• B)Kevin has anticipatorily repudiated the contract and is liable to Jim for damages.
• C)Jim may wait until June 1 to see if Kevin will perform his contractual duties and, if he does not, there is a material breach.
• D)Both (b) and (c) above are correct.

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Definitions:

Demand Management

The process of forecasting, planning, and controlling demand for products and services to optimize supply chain performance.

Staff Training Centre

A facility dedicated to the development and enhancement of employees' skills and knowledge, aiming at improving performance and productivity.

CPR

Cardio-Pulmonary Resuscitation, a lifesaving technique aimed at reviving someone who has stopped breathing or whose heart has ceased to function.

Efficiency

The ratio of useful output to total input, measuring how effectively resources are utilized.