A seller or lessor has the right to cancel a contract if the buyer or lessee breaches the contract by rejecting or revoking acceptance of the goods,failing to pay for the goods,or repudiating all or any part of the contract.

Question

Quizplus · Accepted Answer

This statement is true as it is a common provision in contracts that if one party breaches the terms of the agreement, the other party has the right to cancel the contract. The specific reasons for cancellation may vary depending on the terms of the contract, but rejection or revocation of acceptance, failure to pay, or repudiation of the contract are common grounds for cancellation.

A Seller or Lessor Has the Right to Cancel a Contract