Which of the following is FALSE about the performance and discharge of contracts? O If a...
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Which of the following is FALSE about the performance and discharge of contracts? O If a contract does not specify a time for performance, each party has a reasonable time to perform. A satisfaction clause in a contract requires that the personal and subjective desires of the contract party be satisfied. O The substantial performance doctrine holds that a substantially performing party can recover the contract price minus any amount to correct the defect or deviation in performance. Pursuant to the impossibility doctrine a party's performance will be discharged if, without fault, of the party, performance is impossible to perform. Which of the following is FALSE about the performance and discharge of contracts? O If a contract does not specify a time for performance, each party has a reasonable time to perform. A satisfaction clause in a contract requires that the personal and subjective desires of the contract party be satisfied. O The substantial performance doctrine holds that a substantially performing party can recover the contract price minus any amount to correct the defect or deviation in performance. Pursuant to the impossibility doctrine a party's performance will be discharged if, without fault, of the party, performance is impossible to perform.
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Question in accounting ANSWER C The substantial performance doctrine holds that a ... View the full answer
Related Book For
Financial Statement Analysis
ISBN: 978-0078110962
11th edition
Authors: K. R. Subramanyam, John Wild
Posted Date:
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