Asked by Jalon Williams on May 21, 2024
Verified
When a contracting party refuses to complete the contract before the actual time of performance,it is called a(n) ________.
A) preemptive strike
B) anticipatory repudiation
C) ante-breach
D) advance renunciation
E) executory renunciation
Anticipatory Repudiation
Occurs when one party involved in a contract indicates in advance that they will not fulfill their contractual obligations, allowing the other party to take legal action.
Preemptive Strike
A military or strategic attack intended to neutralize a perceived imminent threat from an opponent before that threat can harm the party making the strike.
- Investigate the consequences of material breaches and breaches of expectation on obligations under a contract.
Verified Answer
AA
Arinn ArnoldMay 25, 2024
Final Answer :
B
Explanation :
Anticipatory repudiation occurs when a contracting party decides not to complete the contract before the actual time of performance.This situation often arises when market conditions change and one party realizes that it will not be profitable to carry out the terms of the contract.
Learning Objectives
- Investigate the consequences of material breaches and breaches of expectation on obligations under a contract.