Exam 10: The Law of Contracts and Sales Ii

Bob signed a contract to donate to a charity every month. He included a clause that the contract would be terminated if the charity did not function properly. What restriction has Bob established in this contract?

Complete performance is the standard used by courts today to determine if a contract has been breached.

Which of the following was established by the Uniform Electronic Transcription Act (UETA)?

What are the standards set by the courts that the plaintiff-buyer must meet in order to recoup lost profits when a seller has breached a contract?

The Uniform Electronic Transcription Act (UETA) has been adopted in its entirety by all fifty (50) states.

A material breach of contract is usually unintentional and not substantial.

The UCITA does not cover licenses of information for traditional copyrighted materials, such as books or magazines.

Courts are reluctant to order specific performance if real estate is involved.

requires completion of nearly all the terms of the contract plus an honest effort to complete the rest of the terms, coupled with no willful departure from any of the terms.

Damages in excess of compensatory damages that the court awards for the sole purpose of deterring the defendant and others from doing the same act again are known as damages.

Emerald, Inc. enters into a contract to purchase 3,000 chipsets from Atlas, Inc. It agrees to pay $10 for each chipset. Atlas manages to deliver only 2,700 chipsets on the stipulated day, leading to a loss in profit for Emerald. The contract did not include a clause about the damages to be paid. If a court decides that Atlas must pay monetary damages, which of the following types of damages will be awarded by the court?

In case of a material breach of contract, the injured party can terminate the contract and sue to recover damages.

The Uniform Electronic Transcription Act (UETA) has been adopted in whole or in part by states.

The Uniform Computer Information Transaction Act (UCITA) does not deal with information that is electronically disseminated.

A is a particular event that must take place to give rise to a duty of performance of a contract.

Which of the following statements is true about e-signatures?

Which of the following is permitted by courts today in the event of a material breach of contract?

Which of the following is an incorrect statement regarding the scope of the UCITA?

Martha and Jim enter into an agreement whereby Jim agrees to paint Martha's car. The contract states that the car is to be painted green. Martha changes her mind and wants the car to be painted blue instead. Jim agrees to paint the car blue. This type of discharge of contract is described as .

Under the Uniform Commercial Code (UCC), a remedy available to the buyer if the seller breaches a contract is the right to .