Which of the following statements is true of a waiver?
A) It generally occurs when a contracting party announces the other party does not have to perform as promised.
B) It requires a condition subsequent to be present in a contract in order to be evoked by a nonperforming party.
C) It can be granted by the breaching party.
D) It is bargained for and is supported by consideration.
E) It generally occurs after a contracting party fails to perform.

Question

Quizplus · Accepted Answer

A waiver generally occurs after a contracting party fails to perform. In this situation, nonperformance by one party may cause the other party to waiver its right to enforce a contract.

Which of the Following Statements Is True of a Waiver