Distinguish minor breach from material breach
What will be an ideal response?
A minor breach occurs when a party renders substantial performance of his or her contractual duties. In other words, it occurs when a party to a contract renders performance that deviates slightly from complete performance. The nonbreaching party may try to convince the breaching party to elevate his or her performance to complete performance. If the breaching party does not correct the breach, the nonbreaching party can sue to recover damages. A material breach of a contract occurs when a party renders inferior performance of his or her contractual obligations that impairs or destroys the essence of the contract. Where there has been a material breach of contract, the nonbreaching party may rescind the contract and seek restitution of any compensation paid under the contract to the breaching party. The nonbreaching party is discharged from any further performance under the contract. Alternatively, the nonbreaching party may treat the contract as being in effect and sue the breaching party to recover damages.
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Joe is a computer service technician. People in his neighborhood usually depend on his suggestions for purchasing any computer accessory or hardware, as they believe that he has access to far more information on computer technology than the average
consumer. The neighbors are also aware that Joe has the required knowledge and background for understanding the technical properties of the products. Within this context, Joe can be called a(n) ________. A) transactional leader B) opinion leader C) role model D) gate-keeper E) international marketer
Tarpon Corp had the following long-term debt at December 31: Collateral trust bonds, having securities of unrelated corporations as security ............................ $250,000 Bonds unsecured as to principal ....................... 150,000 The debenture bonds amounted to
a. $0. b. $150,000. c. $250,000. d. $400,000.
Which of the following is the ultimate form of discrimination taken against an employee for organizing a union activity?
A) reducing the employee's wages B) increasing the employee's working hours C) rescinding the employee's voting rights D) terminating the employee's contract
Define the decision variables for this situation
Due to increased sales, a company is considering building three new distribution centers (DCs) to serve four regional sales areas. The annual cost to operate DC 1 is $500 (in thousands of dollars). The cost to operate DC 2 is $600 (in thousands of dollars.). The cost to operate DC 3 is $525 (in thousands of dollars). Assume that the variable cost of operating at each location is the same, and therefore not a consideration in making the location decision. The table below shows the cost ($ per item) for shipping from each DC to each region. Region DC A B C D 1 1 3 3 2 2 2 4 1 3 3 3 2 2 3 The demand for region A is 70,000 units; for region B, 100,000 units; for region C, 50,000 units; and for region D, 80,000 units. Assume that the minimum capacity for the distribution center will be 500,000 units.