Building Restoration,Inc

question 39

Multiple Choice

Building Restoration,Inc.(BRI) ,enters into a contract to refurbish an old train depot for Casual Dining,Inc.,which plans to open Eat Up Restaurant in that location.If BRI completes most of the work promised in the contract,its performance will be

• A)absolute.
• B)complete.
• C)material.
• D)substantial.

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Definitions:

Creditor/Debtor Transaction

A financial relationship where one party (creditor) provides goods, services, or money to another party (debtor) under the agreement that the debtor will repay the creditor at a later date.

Security

Measures or instruments to ensure the enforcement of obligations or the protection of financial assets.

Creditor/Debtor Transaction

A financial agreement involving a creditor providing funds or resources to a debtor who in return promises to repay the creditor.

Real Property

Immovable property such as land, buildings, and other structures that are permanently attached to the land.