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.

---

Definitions:

Productivity Growth

An increase in the efficiency of production, measured as the amount of output per unit of input over time.

U.S. Productivity

The measurement of how efficiently goods and services are produced in the United States, often measured as output per hour of labor.

GDP

Gross Domestic Product, a measure of the economic performance of a country, representing the total value of all goods and services produced over a specific time period.

Transportation

The movement of people, animals, goods, and materials from one location to another through various means, such as vehicles, trains, ships, and airplanes.