A Contract Is Substantially Performed When Performance Creates Substantially the Same

question 46

True/False

A contract is substantially performed when performance creates substantially the same benefits as those promised in the contract.

---

Definitions:

Supply Disruptions

Interruptions in the flow of goods or materials from suppliers that can lead to shortages and affect production or sales.

Exchange Rate Fluctuations

Variability in the value of one currency compared to another, affecting the cost of importing and exporting goods and services.

Regulatory Requirements

Rules and standards set by governmental or authoritative bodies that organizations must follow in their operations.

Public Sector Organizations

Entities that are part of the government structure, providing services to the public and funded by taxes.