If, Before the Time for Performance, a Buyer Communicates an Intent

question 36

True/False

If, before the time for performance, a buyer communicates an intent not to perform, the seller can consider the buyer in breach and pursue a remedy.​

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Definitions:

Corporate Form

A legal structure for businesses characterized by the business being considered a separate legal entity from its owners or shareholders.

Limited Liability

Limited liability is a form of legal protection for shareholders and owners that limits their loss to the amount invested in the company.

Transferability

Transferability is the ability of an asset to be transferred or moved from one party to another with ease.

Pre-tax Profit

Earnings of a business before any tax is applied; also known as gross profit or operating profit.