Which of the Following Is True with Regard to Tender

question 71

Multiple Choice

Which of the following is true with regard to tender of performance?

• A) If Ivan attempts to pay his $25 debt to Jan in 25-cent pieces, that attempt constitutes a lawful tender of Ivan's obligation.
• B) If Sam attempts to deliver the truckload of strawberries at Frank's produce plant at 8:00 p.m. Saturday, they cannot be refused as long as the delivery was before the specified July 10 deadline.
• C) If the seller attempts to deliver the contract goods at the time and place designated in the contract, but the buyer refuses delivery, the seller will have to make another attempt to deliver before he can sue for breach of contract.
• D) If Pete shows up at Valley Service Station to fix the gas pumps on the date and at the time he was supposed to, but Valley's manager tells him to come back later, Pete has no further obligations and can sue for breach of contract.
• E) If Walt attempts to pay Sarah the $750 debt he owes her with a cheque on the date and at the place designated in the contract, she will have to accept that cheque even though there was no mention of payment by cheque in the contract.

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Definitions:

Toxic Assets

Financial assets whose value has significantly dropped and are difficult to sell, often related to mortgages, whose performance is worse than expected.

Mortgage Market

The market where lenders and borrowers come together to trade mortgages, which are loans secured by real property.

Housing Crises

A situation characterized by a severe shortage of affordable housing, leading to increased homelessness and financial strain on individuals and families.

Adjustable Rate Mortgages

A type of mortgage loan where the interest rate can change over time based on a benchmark interest rate or index that reflects the cost to the lender.