Exam 10: Performance and Breach of Traditional and E-Contracts

________ says that if a written contract is a complete and final statement of the parties' agreement, any prior or contemporaneous oral or written statements that alter, contradict, or are in addition to the terms of the written contract are inadmissible in court regarding a dispute over the contract.

Mary buys a new toaster for $500. The toaster's label bears a disclaimer stating that the manufacturer is not liable for consequential damages. On Monday morning, while Mary is using the toaster, it emits sparks and damages the electric wiring in the kitchen. The electrician tells Mary that the toaster malfunctioned and that the cost of repairs in her kitchen would come up to $2000. What can Mary recover from the manufacturer of the toaster?

Which of the following statements is true of a breach of contract?

The doctrine of ________ allows the court to order an oral contract for the sale of land or transfer of another interest in real property to be specifically performed if it has been partially performed and performance is necessary to avoid injustice.

Which of the following scenarios makes Tim liable for undue influence?

A unilateral mistake occurs if both parties know the object of the contract but are mistaken as to its value.

Which of the following terms refers to an unconditional and absolute offer by a contracting party to perform his or her obligations under a contract?

Parol evidence rule stipulates that the contract is a complete integration and the exclusive expression of the parties' agreement.

________ refers to a situation in which a party threatens to do a wrongful act unless another party enters into a contract.

Duress only occurs where a threat involves physical harm.

Which of the following is true of discharge of performance by agreement?

How is a mistake different from an act of fraud?

________ is a clause in a contract in which the parties specify certain events that will excuse nonperformance.

James hires Franco for a painting job. Their contract explicitly states that Franco's employment can be terminated if he is employed by another party during the contract period. Two weeks into the job, James finds out that Franco is also working for a painting agency two blocks away and terminates his employment. This is an instance of ________.

According to the equal dignity rule, agents' contracts to sell property covered by the Statute of Frauds must be in writing to be enforceable.

Which of the following phrases explain the term covenant?

________ refers to a condition that requires the occurrence of an event before a party is obligated to perform a duty under a contract.

Unilateral rescission of a contract constitutes a breach of that contract.

KnockKnock is a manufacturer of stainless-steel locks which are well known for their durability. The company contacts a new supplier and forms a supply contract. The contract states that KnockKnock would only purchase steel from the supplier if the material supplied was high-grade Type 102 stainless steel. This is an instance of a ________.

A(n)________ refers to a promise in which one person agrees to answer for the debts or duties of another person.