Is It Possible for a Party That Has Waived Rights

question 44

Multiple Choice

Is it possible for a party that has waived rights to a portion of the contract not yet performed to retract the waiver? How?

• A) Yes. The party will be able to immediately assert the late payments as grounds for later canceling the contract.
• B) Yes. The party can give reasonable notice to the other party that strict performance will be required.
• C) No. Once a party has waived rights to a portion of the contract, it will not be able to assert this as grounds for later canceling the contract.
• D) Yes. The contract is assumed to be made in good faith.

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Definitions:

Industrial Engineering

A field of study concerned with analyzing work methods and establishing time standards.

Job Design

The process of outlining how a job or a set of tasks is organized, including the tasks' nature, how they are performed, and the interactions that occur.

Job Specifications

A detailed description of the qualifications, skills, and experience required to perform a specific job.

Performance Appraisal

A regular review and evaluation of an individual's job performance and overall contribution to an organization.