When a party to a contract notifies the other party that it will not perform the contract as agreed,this conduct is referred to as
A)specific performance.
B)cover.
C)repudiation.
D)assurance.

Question

Quizplus · Accepted Answer

This conduct is referred to as repudiation. Repudiation occurs when a party, through words or conduct, shows an intention not to perform its obligations under the contract. This may give rise to a claim for damages by the innocent party, as well as other remedies such as termination of the contract. Specific performance is a remedy that requires a party to fulfill its contractual obligations, while cover refers to the purchase of substitute goods to replace non-conforming goods. Assurance is a term used in the context of the UCC to refer to a promise made by one party to another that the goods or services sold will meet certain specifications or standards.

When a Party to a Contract Notifies the Other Party