BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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within a reasonable time.
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within 30 days of signing the contract.
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within one year of signing the contract.
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whenever the party is able to complete the performance.
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Detailed explanation-1: -A breach of contract occurs when one party in a binding agreement fails to deliver according to the terms of the agreement. A breach of contract can happen in both a written contract and an oral contract. The parties involved in a breach of contract may resolve the issue among themselves or in a court of law.
Detailed explanation-2: -Time for performance of promise, where no application is to be made and no time is specified.-Where, by the contract, a promisor is to perform his promise without application by the promisee, and no time for performance is specified, the engagement must be performed within a reasonable time.
Detailed explanation-3: -If no time period for performance is specified in a contract:-the contract is unenforceable.
Detailed explanation-4: -Promisor Performs the Promise If a contract indicates that the parties intended for the promisor to fulfil the promise himself, then the promisor is obligated to perform the promise.