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eimsori [14]
4 years ago
12

____________ party fails to perform certain express or implied obligations, which impairs or destroys the essence of the contrac

t.
Business
1 answer:
just olya [345]4 years ago
3 0

Answer:

Inferior performance is when a party fails to perform certain express or implied obligations, which impairs or destroys the essence of the contract.

Explanation:

A contract is an agreement expressed in writing or spoken statement between two or more parties that is intended to be enforceable. The contract by the parties usually involves the agreement by one party to provide a service or good in exchange for some compensation. A contract is recognized by law and therefor should be taken seriously, however there are cases when conflict arises due to performance issues on the part of a particular party. The performance issues are;

1. Complete performance

It is also known as strict performance and involves when a party to a contract renders the service exactly as agreed in the contract. The party that the service is rendered to is always satisfied in a complete performance situation.

2. Substantial performance

In this case, a party to the contract has delivered almost complete performance as stipulated by the contract. A substantial performance usually involves a minor breach that can be overlooked.

3. Inferior performance

An inferior performance is an outright breach to the express and implied contractual obligations. This type of performance destroys the very essence of the contract. This usually comes with legal implications to the party whose performance is inferior.

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3 years ago
The market shares (in percentage terms) for the 12 firms that comprise an industry are 15, 12, 11, 10, 8, 7, 7, 6, 6, 6, 6, and
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3 years ago
A firm that has recently experienced an enormous growth rate is seeking to lease a small plant in Memphis, TN; Biloxi, MS; or Bi
Alex_Xolod [135]

Answer and Explanation:

The computation of economic analysis of the three locations is shown below:-

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In this way it is to be shown

4 0
3 years ago
Each week you drive 150 miles your car gets 25 miles to the gallon and gas prices are three dollars per gallon how much money wi
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Total cost = $3 / gallon (150 miles / (25 miles/gallon)) =<span> $18</span>
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Which of the situations is an example of the crowding-out effect on investment as it pertains to macroeconomics? The government
katen-ka-za [31]

Answer:

The answer is "Choice B".

Explanation:

Please find the numbering of the question in the attached file.

Jack needed to steal money to create a children's Wild Wild West hillbilly animatronic rewards house. The state has a surplus, that has forced up Jack's already too high rate of return to exploit.

Its consequence for crowdedness is government spending for capital investors. Enhanced public expenditure results in domestic income. Its increase in government income generates an unstable monetary market with the increase in interest rates and holds the demand for money equal to a money supply set by a commercial bank. Increased rate of interest affects manufacturing costs but declines in private sector investment.

8 0
3 years ago
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