12 Questions
What is a breach of contract according to the provided definition?
Any failure to render full performance when due
What happens if a party commits a minor breach at common law?
The nonbreaching party is entitled to damages but must still render performance
What is a material breach?
A breach that thwarts the purpose of the contract or deprives the nonbreaching party of the essential benefit
What is the rule that governs contracts for the sale of goods?
The perfect-tender rule
What is a condition to each party's remaining duty of performance?
No uncured, material failure by the other party to render performance due at some earlier time
What is the minimum remedy for a breach of contract?
Damages
What is the rule that allows a buyer to reject goods if they do not conform to the contract, even if the breach is minor?
Perfect-Tender Rule
What are the possible options for a buyer when a seller has breached the sales contract?
Reject all goods, accept all goods, or accept some goods and reject the rest.
In a contract for the sale of goods, what type of warranty may arise from an affirmation or promise about the goods?
Express Warranty
If a seller is a merchant, what implied warranty does the contract contain?
Implied Warranty of Merchantability
What implied warranty applies to goods being fit for a specific purpose, regardless of whether the seller is a merchant?
Implied Warranty of Fitness for a Particular Purpose
What is the term for a party communicating their unwillingness or inability to perform before their performance is due?
Anticipatory Repudiation
Learn to identify breaches and understand the actions a nonbreaching party can take in response. Discover how any failure to render full performance when due can entitle the nonbreaching party to damages. Find out the importance of substantial performance.
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