BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
When one or more parties do not follow the agreed terms of a contract without having a legitimate reason a ____ occurs.
A
cancellation
B
breach of contract
C
damaged contract
D
broken agreement
Explanation: 

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: -Generally speaking, there are four types of contract breaches: anticipatory, actual, minor and material.

Detailed explanation-3: -Any kind of contract may be considered broken ("breached") once one party unconditionally refuses to perform under the contract as promised, regardless of when performance is supposed to take place. This unconditional refusal is known as a “repudiation” of a contract.

Detailed explanation-4: -SWAT cops usually have four types of breaching options at their disposal: mechanical, ballistic, thermal and explosive. Each of these styles has their own advantages and disadvantages.

Detailed explanation-5: -An anticipatory breach occurs when a party demonstrates its intention to break a contract. However, vocal or written confirmation is not required, and failure to perform any obligation in a timely matter can result in a breach.

There is 1 question to complete.