Chartered Property Casualty Underwriter (CPCU) 530 Practice Exam

The failure, without legal excuse, to fulfill a contractual promise.

Contract Standing to sue Final order Breach of contract

Correct Answer:

Breach of contract

Explanation:

A breach of contract occurs when one party fails, without a legal excuse, to perform a promise made in a contract. The contract is simply the agreement itself, while standing to sue concerns who has the right to bring a claim, and a final order is a court’s ruling. The term that best describes the act of not fulfilling the promise is breach of contract, which can be either material or minor depending on the extent of nonperformance.

Access more questions from this quiz

Continue to Chartered Property Casualty Underwriter (CPCU) 530 Practice Exam for more practice questions and the full quiz experience.

Access More Questions