Vicarious performance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vicarious performance is where
a. a third party performs an obligation in place of another person who is ultmately liable for a proper performance
b. an employee performs an obligation inplace of another employee and the performing employee is liable for proper performance
c. parties to a contract enter into another agreement that has the effect of transferring the liability to perform to a third party
d. an employer performs an obligation in place of its employee and is liable for proper performance
e. parties to a contract agree to terminate a contract and substitute a new contract in place of the old one.
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