Contracts
What does 'tender of performance' mean in a Delaware real estate contract?
AA formal offer to perform contractual obligations (e.g., the buyer tendering the purchase price at closing)✓ Correct
BA tender offer to purchase a commercial property
CA tender of settlement by a party who has breached the contract
DA price reduction offered to facilitate closing
Explanation
Tender of performance is a party's formal offer to fulfill their contractual obligations — for example, the buyer tendering the purchase funds at closing. Tender by one party is typically required before the other party's non-performance constitutes a breach.
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