A Group Is Characterized by Different and Complementary Resources of Members

question 11

True/False

A group is characterized by different and complementary resources of members and by a strong sense of collective identity.

Recognize the legal responsibilities of contracting parties in ensuring the fulfillment of contracted duties.

Evaluate the legal consequences of not performing under a contract and the remedies available.

Understand the conditions under which a third-party can enforce a contract.

Identify the legal foundations for the delegation of contractual obligations and the limitations thereof.

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Definitions:

Liability for Negligence

The legal responsibility that arises when someone fails to exercise a reasonable standard of care, resulting in harm or damage.

Substantial Performance

Substantial performance is a legal principle indicating that if a party has performed enough of its contract obligations, it can demand payment or compensation, minus deductions for unfinished or incorrect work.

Breach of Contract

A breach of contract occurs when one party fails to fulfill its obligations under the contract, thereby violating the agreement.

Punitive Damages

Monetary compensation awarded to an aggrieved party that goes beyond what is necessary to compensate for losses, intended to punish the wrongdoer.