________ occurs when one contracting party informs the other that he or she will not perform his or her contractual duties when due.
A) Restitution
B) Rescission
C) Anticipatory repudiation
D) Accommodation

Question

Quizplus · Accepted Answer

Anticipatory repudiation occurs when one party indicates that they will not fulfill their obligations under the contract, allowing the other party to seek damages and/or terminate the contract. Restitution refers to the return of something (e.g. money, property) to its rightful owner or original state. Rescission involves canceling or undoing a contract. Accommodation refers to making adjustments or compromises to reach a mutually beneficial agreement.

________ Occurs When One Contracting Party Informs the Other That