Question

Rick agrees to buy 20 acres of land from tina. three weeks before the deal is to close, rick calls tina and says, "the deal is off!" in this situation, rick's actions constitute:

Answer 1

Answer:

In this situation, Rick's actions constitute "anticipatory repudiation of the contract."

Explanation:

When two parties agree on any contract but due to some reasons one party does not meet requirements of that contract and breach the contract in his/her own words, this is known as anticipatory repudiation of the contract. Thus Rick's actions constitute anticipatory repudiation of the contract as he calls Tina and say that the deal is off.