A Party Who Knowingly Accepts Defective Performance of a Contract

question 20

True/False

A party who knowingly accepts defective performance of a contract thereby acknowledges the breach and can take later action on it.

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Definitions:

Assignee

An individual or entity to which rights or interests have been transferred, typically in the context of contracts or other legal agreements.

Parol Evidence Rule

A legal principle that prevents parties from presenting evidence of prior or contemporaneous agreements that contradict the terms of a written contract.

Vague

Lacking clarity or preciseness in thought, expression, or meaning.

Misrepresentation

The act of providing false information with the intent to deceive, often leading to harm or loss.