CA Foundation Exam > CA Foundation Questions > Breach of contract on the due date is known a...
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Breach of contract on the due date is known as:
- a)Anticipatory Breach
- b)Actual Breach
- c)Both ‘A’ and ‘B’
- d)None of the above
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Breach of contract on the due date is known as:a)Anticipatory Breachb)...
Breach of Contract on the Due Date:
When a party fails to fulfill their contractual obligations on the due date, it is considered a breach of contract. This breach can have legal consequences and may entitle the non-breaching party to certain remedies. In this case, the breach occurs on the agreed upon due date of the contract.
Types of Breach:
There are two types of breaches that can occur on the due date:
1. Anticipatory Breach: This occurs when one party clearly and unequivocally communicates their intention to not fulfill their contractual obligations before the due date. It is a breach that happens before the actual due date.
2. Actual Breach: This occurs when one party fails to perform their obligations on the due date without any prior notice or communication regarding their inability to fulfill the contract.
Answer:
The correct answer to the question is B: Actual Breach.
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When a party fails to fulfill their contractual obligations on the due date, it is considered a breach of contract. This breach can have legal consequences and may entitle the non-breaching party to certain remedies. In this case, the breach occurs on the agreed upon due date of the contract.
Types of Breach:
There are two types of breaches that can occur on the due date:
1. Anticipatory Breach: This occurs when one party clearly and unequivocally communicates their intention to not fulfill their contractual obligations before the due date. It is a breach that happens before the actual due date.
2. Actual Breach: This occurs when one party fails to perform their obligations on the due date without any prior notice or communication regarding their inability to fulfill the contract.
Answer:
The correct answer to the question is B: Actual Breach.
Most Upvoted Answer
Breach of contract on the due date is known as:a)Anticipatory Breachb)...
An actual breach occurs when one person refuses to fulfill his or her side of the bargain on the due date or performs incompletely. Anticipatory breach occurs when one party announces, in advance of the due date for performance, that he intends not to fulfill his side of the bargain.
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Breach of contract on the due date is known as:a)Anticipatory Breachb)Actual Breachc)Both ‘A’ and ‘B’d)None of the aboveCorrect answer is option 'B'. Can you explain this answer?
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