Asked by Marvelous Abraham on Jun 11, 2024
Verified
A[n] ________ discharges the nonbreaching party from his or her obligations under the contract.
A) Immaterial breach
B) Substantial breach
C) Material breach
D) Delineated breach
E) Crossed breach
Material Breach
A significant violation of a contract that permits the other party to either compel performance, seek remedies for damages, or terminate the agreement.
Nonbreaching Party
The party in a contract who has not violated the agreement and may be entitled to legal remedies.
Obligations
Duties or actions that an individual or entity is legally required to perform according to the terms of a contract or law.
- Understand the role and impact of breaches in contracts, including material and immaterial breaches.
Verified Answer
Learning Objectives
- Understand the role and impact of breaches in contracts, including material and immaterial breaches.
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