Failure of a party to perform an obligation in a sales or lease contract is known as ________.
A) revocation
B) breach
C) acceptance
D) replevin

Question

Quizplus · Accepted Answer

A breach occurs when a party fails to perform an obligation in a sales or lease contract. Revocation refers to the act of cancelling or withdrawing an offer. Acceptance is the act of agreeing to an offer. Replevin is the legal action of reclaiming property that has been wrongfully taken.

Failure of a Party to Perform an Obligation in a Sales