Question

Which of the following statements is true of a situation in which a party to a contract substantially performs its obligations to the contract? Group of answer choices The contract is said to be materially breached. The party may be entitled to a partial recovery under the contract. The party's performance is said to be as good as completed. The party will be entitled to full recovery under the contract. The contract immediately becomes void.

Answer 1

The party may be entitled to a partial recovery under the contract.

What is Substantial Performance in Contract Law?

Each party promises to uphold its end of the bargain when two parties enter into a contract. Say, for instance, that a property owner hires a contractor to work on their property's construction, such as adding a wing to the house. The property owner will pledge to pay for the services provided, and the contractor will promise to carry out the construction as specified in the contract.

When there is just a minor deviation from the terms of the agreement, a good faith attempt was made to achieve complete performance, and there was no major breach, a party may claim substantial performance. In essence, the result will be adequate to support payment for the services provided.

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