An Offer of Performance Is Known as When Parties Offer

question 61

Multiple Choice

An offer of performance is known as when parties offer to perform and are ready,willing,and able to perform.

• A)Implied acceptance
• B)Showing
• C)Completer
• D)Tender
• E)Offering

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Definitions:

Verbal Offer

A verbal offer is an oral proposal or agreement, not written, about a transaction or contract, which can sometimes be legally binding in certain contexts.

Bilateral Contract

A type of contract that involves mutual obligations, where each party to the contract is both a promisor and promisee.

Breach of Contract

Occurs when one party fails to fulfill their obligations under a contract, allowing the other party to seek legal remedies.