Which One of the Following Is True with Regard to the Ending

question 120

Multiple Choice

Which one of the following is true with regard to the ending of a contract by performance?

• A) In law, a certified cheque is the same as cash.
• B) If a person attempts to perform services in accordance with the terms of the contract, and the buyer refuses those services, the person attempting to perform can sue the buyer with no further attempt to perform.
• C) If a person owing money has tendered payment in a reasonable way, at a reasonable time, and it has been refused, he is free from any further obligation to pay.
• D) If a warranty is breached, the victim has no further obligation to perform under the contract.
• E) Legal tender consists of bills or coin in any amount.

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Definitions:

Pretax Return

The income a company generates before any taxes are subtracted.

Working Capital

The gap between an organization's current assets and its current liabilities, reflecting the business's short-term fiscal stability and operational effectiveness.

Salvage Value

The projected sales value of an asset at the termination of its effective life.

Financially Attractive

Describes opportunities or investments that are likely to provide a good return or prove to be profitable.