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CIPS Exam L5M3 Topic 1 Question 29 Discussion

Actual exam question for CIPS's L5M3 exam
Question #: 29
Topic #: 1
[All L5M3 Questions]

If a party is to 'repudiate' a contract, what does this mean?

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Suggested Answer: C

The correct answer is: 'damages attempt to position the innocent party in the position that they would have been had the contract been performed as expected'. This is a quote from p. 121 Option1 is incorrect as unliquidated damages aren't stated in a contract. Option 2 is incorrect because liquidated damages are an assessment of damages before a breach. Option 4 is incorrect because not all breaches are caused by errors (they can be caused by negligence or the offending party withholding something).


by Ronny at May 30, 2024, 09:05 AM

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Nobuko
1 months ago
Option C it is! Repudiation, the legal way to say 'Hey, I changed my mind. Bye-bye, contract!'
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Victor
1 days ago
User 1: So, what does it mean if a party 'repudiates' a contract?
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Francoise
1 months ago
Ah, the old 'I don't wanna do this anymore' clause. Option C is the winner, folks!
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Paz
1 days ago
User 3: Yeah, that's right. It's usually in response to a breach.
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Nohemi
6 days ago
User 2: No, it's when the party indicates they no longer intend to fulfil their contractual obligations.
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Trina
22 days ago
User 1: I think it means the party is cancelling the contract as it is no longer needed.
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Alaine
2 months ago
Hmm, I always thought 'repudiate' just meant 'to reject or deny.' Looks like Option C is the legal way to say it.
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Theron
3 days ago
So, it's like saying they won't be able to keep their end of the deal.
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Deeann
5 days ago
It means the party indicates they no longer intend to fulfil their contractual obligations, usually in response to a breach.
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Lashawna
21 days ago
Option C is the legal way to say it.
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Shizue
26 days ago
Yes, Option C is the legal way to say it.
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Sina
1 months ago
I always thought 'repudiate' just meant 'to reject or deny.'
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Leontine
1 months ago
I always thought 'repudiate' just meant 'to reject or deny.'
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Laurene
2 months ago
Repudiation? Sounds like my ex-girlfriend after I forgot our anniversary. Option C is the way to go here.
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Destiny
13 days ago
Exactly, it's like saying 'I'm out' in a legal way.
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Amie
16 days ago
It's like breaking up with a contract, right?
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Lindsey
17 days ago
Yeah, repudiation is like saying you're not going to fulfill your part of the deal.
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Destiny
26 days ago
I agree, option C is the correct answer.
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Dewitt
2 months ago
I agree with Angelica, 'repudiate' is when the party gives notice that they anticipate that they will not be able to fulfil their future obligations.
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Angelica
2 months ago
I believe 'repudiate' means the party indicates they no longer intend to fulfil their contractual obligations, usually in response to a breach.
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Shelia
2 months ago
I think 'repudiate' means the party is cancelling the contract as it is no longer needed.
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