When a Contract Exists and a Principal Agrees to Certain

question 102

Multiple Choice

When a contract exists and a principal agrees to certain conditions but fails to perform,which of the following may the agent seek in order to force the principal to perform the contract as stipulated?

• A)Specific performance
• B)Substantial performance
• C)Anticipatory repudiation
• D)Reformation
• E)Renunciation

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Definitions:

Customer Receives

The process by which a customer gets the product or service they have purchased.

Price Pays

The concept that the value or quality of a product or service is reflected in its price, implying that higher prices often indicate better quality.

Marketing-Oriented Strategy

A business approach that focuses on meeting the needs and wants of consumers through product development, promotion, and distribution.

Long-Term Profits

Earnings that a company expects to generate over an extended period, emphasizing sustainability and continuous growth.