Asked by
Merna Hirmiz
on Dec 16, 2024
Verified
The principle of substantial performance can best be described as when
A) all or most of the contractual obligations are fulfilled.
B) a major term of the contract is mostly fulfilled.
C) minor terms of the contract are yet to be fulfilled.
D) minor terms of the contract are disregarded.
E) only exact compliance with the contract will qualify as performance.
Substantial Performance
A level of completion where a contract's essential terms have been fulfilled, allowing for the fulfillment of the contract's overall purpose.
Contractual Obligations
Contractual obligations are duties that parties are legally required to perform as outlined in a contract, failure of which may lead to legal consequences.
- Acquire knowledge about the key tenets of substantial performance and the prerequisite and consequent conditions under contract law.
Verified Answer
TN
Learning Objectives
- Acquire knowledge about the key tenets of substantial performance and the prerequisite and consequent conditions under contract law.