Which of the following statements best describes specific performance?
A) compelling a party to perform in such a way as to meet the terms of the contract
B) correcting the terms in an agreement so that they reflect the true understanding of the parties
C) replacing one party of a contract with another party
D) canceling a contract
A
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Technique that measures the percentage of completion on a contract by comparing costs incurred to date with the most recent estimate of the total costs to complete the contract.
(a) percentage-of-completion method (b) cost-to-cost basis (c) continuing franchise fees (d) repurchase agreements
Which of the following applies the concept of a "single agent"?
a. the single agent broker represent the seller or the buyer b. the single agent broker represent the seller and the buyer c. in a single agency, the broker is a dual agent for the seller and buyer d. in a single agency, the broker represent two principals