A buyer's cancellation of a contract based on the seller's anticipatory repudiation is effective:
A) only if the buyer expressly notifies the seller of the cancellation.
B) if the cancellation precedes the seller's attempt to retract her repudiation.
C) only if bond has been obtained.
D) only if the seller's repudiation is in writing.

Question

Quizplus · Accepted Answer

The buyer's cancellation is effective if it occurs before the seller retracts their anticipatory repudiation, as the retraction can nullify the grounds for cancellation if it is made before the buyer acts on the repudiation.

A Buyer's Cancellation of a Contract Based on the Seller's