What is the duty to mitigate losses? Which of the following is correct?

Group of answer choices

Mitigation of losses is the notice given to the party causing the fault that they must desist or they run the risk of being sued

Mitigation of losses means that the party suffering the breach must end the contract immediately

Mitigation of losses is a court order requiring the defaulting party to compensate the party which suffered the losses from the breach

The duty to mitigate is where a party suffering the loss must take reasonable steps to lessen the impact and losses occurring as a result of the breach