Which of the following statements is true about a material breach?
A) If a breach of contract is material, the injured party is entitled only to the cost of replacement.
B) Even a minor deviation from the terms of the contract is considered a material breach of contract.
C) Courts generally allow a party to cure a material breach even if the contract's time period has lapsed.
D) The injured party can terminate the contract if the breach of contract is material.
D
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Assume that you went to Las Vegas and hit the jackpot for $5 million. Further assume that you were offered a choice to receive the $5 million today, or receive it in two years. According to one of the principles of finance, which would you take?
A) the $5 million today because it would be worth more than if you would receive it in two years B) the $5 million in two years because it would be worth more than if you would receive it today C) You would be indifferent as to when you would receive the $5 million. D) the $5 million in two years because you would be afraid of spending it all right away
A pharmaceutical company manager attending a meeting of academic scientists would be functioning in which role?
A) informational B) figurehead C) liaison D) decisional