In Which of the Following Situation a Party's Duty to Perform

question 35

Multiple Choice

In which of the following situation a party's duty to perform cannot be discharged?

• A)The nonoccurrence of a condition subsequent
• B)The nonoccurrence of a condition precedent
• C)Anticipatory breach
• D)Material breach

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Definitions:

Borrowing Money

The act of obtaining funds from a lender under the agreement to pay back the principal amount along with interest or other charges.

Payroll Expense

Payroll expense is the total amount of wages, salaries, and other compensation that a business pays to its employees over a specific period.

Contra Account

A type of account used in accounting to reduce the value of a related account, creating a net balance that reflects the correct value of the asset or liability.

Cash Flow Problems

Situations where a business struggles to manage the timing and amounts of cash inflows and outflows, affecting its ability to meet financial obligations.