On June $1,$ Derrick and Zion form a signed written contract requiring that Derrick conduct a marketing study and prepare a report on the product that Zion manufactures and distributes. In exchange, Zion will pay Derrick $$25,000.$ The contract provides: $$The parties will meet at Zion$$s offices on December $1,$ at which time they will make the exchange of payment for marketing report$$marketing report for payment.$$ On December $1,$ Derrick arrives at Zion$$s office with the complete marketing report in his briefcase. In his desk drawer, Zion has a cashier$$s check for $$25,000,$ made payable to Derrick. Zion asks for the marketing report. Derrick says that he won$$t remove the report from his briefcase until Zion pays him. Zion says that he won$$t pay until Derrick gives him the report.

Is Derrick in breach for failing to hand Zion the marketing report?

Group of answer choices

No; absent Zion$$s tender of payment, Derrick is under no duty to perform

Yes; Zion has no duty to make payment until Derrick first tenders the marketing report

Yes; by refusing to deliver the report, Derrick fails to honor his contractual promise

No; Derrick has no assurance that Zion genuinely intends to pay him