What must occur for Complete Performance to take place?

Study for the Business Senior Exam. Use flashcards and multiple-choice questions with hints and explanations. Prepare confidently!

Complete Performance refers to the fulfillment of all aspects of a contractual agreement by the parties involved. For Complete Performance to take place, it is essential that all express or implied-in-fact conditions stipulated in the contract are fully satisfied. This means that every duty, obligation, or condition outlined in the contract must be completed as agreed upon, without any deviations or omissions.

When express conditions are part of the contract, they outline specific requirements that must be met, while implied-in-fact conditions arise from the context and purpose of the contract. To achieve Complete Performance, both types of conditions must be adhered to, ensuring that the intentions of the parties are fully realized as agreed.

In contrast, reaching mutual agreement, accepting partial completion of duties, or renegotiating conditions do not fulfill the criteria for Complete Performance. These scenarios do not guarantee that all requirements of the contract have been met, which is essential for the performance to be considered complete.

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