Which of the Following Is a Condition Courts Require in Order

question 16

Multiple Choice

Which of the following is a condition courts require in order to recognize substantial performance?

• A)Complete performance
• B)An executed,rather than an executory,contract
• C)Completion of all the terms of the agreement
• D)A bad faith effort to complete all the terms of the agreement
• E)No willful departure from the terms of the agreement.

---

Definitions:

Lease as Asset

An agreement where a lessee gains the right to use an asset for a specified period in exchange for payment, recognized as an asset on the lessee's balance sheet under certain conditions.

Purchase Option

A clause in a contract that allows one party to purchase goods or assets from the other party at a predetermined price within a specified timeframe.

Market Rate of Interest

The prevailing rate at which interest is paid by borrowers for loans or earned by investors in the financial markets.

Face Value

The nominal or original value stated on a security or financial instrument, such as a bond or stock, at the time of its issue.