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When one party anticipatorily repudiates a contract, what two options does the nonbreaching party have?

Respuesta :

nobillionaireNobley
Anticipatory breach of a contract occurs when one party lets the other party know that performance will not occur.

When one party anticipatorily repudiates a contract, the options that the nonbreaching party have include:

Cancel the contract
Sue for compensatory damages
Use the doctrine of anticipatory repudiation

When one party anticipatory repudiates a contract, the options that the non-breaching party has:

• Bring suit for repudiation and compensatory damages.

• Canceled out their own duties from the contract.

Further Explanation:

Anticipatory repudiation: It is known as an anticipatory breach. It occurs when two parties who have entered into a contract for performance at the future date and one party make it known to the other party expressly or by conduct that the conditions of the contract will not be met. An example of anticipatory when the breaching party states that they are stopping production of an ordered item or refuse to accept payment. In such a case the remedies that are available to the non-breaking party are:

• Bring suit for repudiation and compensatory damages.

• Bring suit for repudiation and have the breaching party perform their duties as stated in the contract.

• responsibilities out their own duties from the contract.

The party who has not breached the contract has to choice whether to bring suit for performance and agreement to continue the contract.

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Answer details:

Grade: High School

Subject: Business Law

Chapter: Contract Act

Keywords: When one party anticipatory repudiates a contract, two options that the breached the party has, contract act.

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