What term describes a failure to perform, as promised, at the time the performance was due?

What term describes a failure to perform, as promised, at the time the performance was due?

• A. Breach of contract
• B. Arbitration
• C. Memo
• D. Liability

Answer: (A)

Failing to do what was promised by the time it was due is a breach of contract. A contract lays out what each party must do and when that performance is required. When one side doesn’t meet that promise or misses the deadline, the agreement is considered breached. That breach can lead to remedies like damages or other relief outlined in the contract. Arbitration isn’t about performance timing—it’s a method to resolve disputes. A memo is simply a written note or summary. Liability refers to legal responsibility for debts or damages, not the act of failing to perform a promised duty by a deadline.

Failing to do what was promised by the time it was due is a breach of contract. A contract lays out what each party must do and when that performance is required. When one side doesn’t meet that promise or misses the deadline, the agreement is considered breached. That breach can lead to remedies like damages or other relief outlined in the contract.

Arbitration isn’t about performance timing—it’s a method to resolve disputes. A memo is simply a written note or summary. Liability refers to legal responsibility for debts or damages, not the act of failing to perform a promised duty by a deadline.