Question
Six months before contractual performance is due under a contract governed by the UCC, Maria reasonably believes that Theresa will be unable to perform required
Six months before contractual performance is due under a contract governed by the UCC, Maria reasonably believes that Theresa will be unable to perform required contract obligations. What rights, if any, does Maria have?
Multiple Choice
- Maria may demand assurance from Theresa that the contract will be performed; and if such assurances are not given within 30 days, Theresa is considered to have repudiated the contract.
- Maria may demand absolute proof from Theresa that the contract will be performed; and if such assurances are not immediately forthcoming, Theresa is considered to have repudiated the contract.
- Because her belief as to Theresa's inability to perform is reasonable, Maria may cancel the contract immediately.
- Maria has no rights.
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
10th Edition
1111822239, 324639767, 9781111822231, 978-0324639766
