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

Intentional misrepresentation is commonly referred to as ________.

Duress occurs when one person takes advantage of another person's mental, emotional, or physical weakness and unduly persuades that person to enter into a contract.

The term ________ refers to any oral or written words outside the four corners of a written contract.

A(n)________ is a clause in a contract which stipulates that it is a complete integration and the exclusive expression of the parties' agreement.

________ is an event that occurs when one person consciously decides to induce another person to rely and act on a misrepresentation.

In a(n)________ mistake, only one party is mistaken about a material fact regarding the subject matter of the contract.

A party who owes a duty of performance under a contract is called the ________.

A(n)________ is an unconditional promise to perform.

________ refers to a third party who is not in privity of contract but who has rights under the contract and can enforce the contract against the promisor.

Poole Contractors makes a contract with Delta Resources to pay $50,000 for the supply of 500 truckloads of sand within next week. Delta Resources delivers the sand in two days after the contract was made. Poole Contractors pays the $50,000 promised in the contract. This is an instance of ________.

To be actionable as fraud, the misrepresentation must have been the sole factor in inducing the innocent party to enter into the contract.

The ________ is an equitable doctrine that 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.

If Johnny made an oral contract with Peter to sell Peter his truck for $15,000, Johnny's eventual refusal to sell the truck is considered breach of contract.

Heather chooses to buy a scarf at Macy's and reads the price on the tag as $50. She uses her credit card to pay for the scarf and post-purchase, she notices that the price tag actually says $500. This is an instance of a(n)________.

A covenant is an unconditional promise to perform.

Jonas enters into an oral contract with Chelsea to lease his house to her for $100,000. Chelsea pays him $100,000 and moves in. A month later, Jonas learns that his state requires contracts for the lease of goods with payments of $1,000 or more to be in writing. Which of the following options does either party have?

An obligee who transfers a right is known as a(n)________.

A contract involving mutual mistake of value is ________.

A(n)________ is a party who is unintentionally benefited by other people's contracts.

A misrepresentation is considered fraud even if it is made without intent to deceive another party.