The failure of one party to perform a contract entitles the other party to rescind it.

Question

Quizplus · Accepted Answer

This statement is true. If one party fails to perform a contract, the other party has the right to rescind or terminate the contract. This is typically outlined in the terms of the contract itself, and may also be governed by applicable laws and regulations. Rescission may also be available as a remedy in cases of fraud or misrepresentation.

The Failure of One Party to Perform a Contract Entitles