A) is created only when the phrase "provided that" or a similar phrase introduces it. B) is an event that must occur before a party becomes obligated under a contract. C) must be expressly stated,although it can be created by informal language. D) will not be enforced by the courts unless formal language is used,regardless of the intent of the parties to create a condition. A) is created only when the phrase "provided that" or a similar phrase introduces it. B) is an event that must occur before a party becomes obligated under a contract. C) must be expressly stated,although it can be created by informal language. D) will not be enforced by the courts unless formal language is used,regardless of the intent of the parties to create a condition. B

A) will enforce any express conditions intended by the parties. B) may refuse to enforce an express condition intended by the parties if the court determines it is unfair and harmful to the general public. C) requires strict performance if a clause of the contract expressly demands it. D) applies an objective standard whenever ruling on a personal satisfaction contract. A) will enforce any express conditions intended by the parties. B) may refuse to enforce an express condition intended by the parties if the court determines it is unfair and harmful to the general public. C) requires strict performance if a clause of the contract expressly demands it. D) applies an objective standard whenever ruling on a personal satisfaction contract.

Exam 16: Performance and Discharge

Generally,neither a "time is of the essence" clause nor a "force majeure" clause will be recognized by the courts because these types of clauses are seen as a violation of public policy.

Free

(True/False)

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Question 1

Correct Answer:

Verified

False

Monumental,Inc.contracts with Champion Builders to erect a three-story office building on a parcel of land it has purchased.Before construction begins,the local zoning board changes the zoning of the parcel and those adjoining it to residential use only.Monumental's contract with Champion is discharged.

Free

(True/False)

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Question 2

Correct Answer:

Verified

True

A condition:

Free

(Multiple Choice)

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Question 3

Correct Answer:

Verified

Alice signs a contract with Bob to buy Bob's house for $150,000,with the clause,"if I am able to obtain a mortgage loan for $125,000,at no more than 7% interest,payable over 15 years." Assume that Alice tries but is unable to obtain the described loan,and therefore refuses to proceed with the purchase.Alice is in breach of the contract.

(True/False)

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Question 4

As set forth in the Restatement Second of Contracts,which of the following duties are imposed on the parties in the performance and enforcement of a contract?

(Multiple Choice)

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Question 5

Most contracts are discharged by mutual agreement of the parties.

(True/False)

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Question 6

Mary contracted to buy 100 table lamps.Under the terms of the agreement,Mary is to pay for the lamps upon delivery.This is an example of:

(Multiple Choice)

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Question 7

A contract between a company in the U.S.and one in China,contained a clause that stated:"If an event happens which is extraordinary and out of the control of the parties such as a strike,act of God,fire,accident,or transportation difficulties,then the affected party shall be relieved of its obligations under the contract." This type of clause is:

(Multiple Choice)

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Question 8

Name and describe the types of conditions,explain how conditions are created,and discuss whether it is important to identify the type of condition in a contract.

(Essay)

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Question 9

Melody is a recent graduate of State Law School.She lands an impressive employment contract with the firm of Dewey,Cheathem,and Howe,Attorneys at Law,on the stated provision that she pass the upcoming bar exam.This provision in the employment agreement is a(n):

(Multiple Choice)

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Question 10

Jennifer substantially performs her service contract with Gretchen.Due to Jennifer's failure to render complete performance,Gretchen:

(Multiple Choice)

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Question 11

Sam,the seller,enters into a contract agreement to buy Betty Lou's house on the condition that he is able to secure financing at or below 6% per year.This is a:

(Multiple Choice)

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Question 12

Abdulla hired Granite Construction to build an addition onto his home.Granite Construction dug the foundation but then abandoned the project.Granite Construction is entitled to receive the full contract price minus the value of the defects.

(True/False)

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Question 13

Concurrent conditions arise when there is both a condition precedent and a condition subsequent.

(True/False)

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Question 14

M & E contracted to sell 500 music stands to Coda,Inc.M & E shipped the stands in accordance with the agreement.Coda paid for the stands as promised.The contract between M & E and Coda is discharged by:

(Multiple Choice)

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Question 15

A court:

(Multiple Choice)

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Question 16

The statement,"You will have a job with Snelling & Snelling as long as you complete your degree in business administration this May" does not create a condition because it does not include the phrase "provided that."

(True/False)

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Question 17

Linda agrees to buy Missy's Greyhound race dog for $2,000.Linda is to deliver the money and take possession of the dog the next morning.That night,running his best race ever,the dog runs away from Missy,never to be seen again.

(Multiple Choice)

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Question 18

The UCC recognizes commercial impracticability as a ground for discharge of a contract.

(True/False)

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Question 19

Oxtron,Inc.substantially performed its obligations under a service contract.Oxtron is entitled to receive:

(Multiple Choice)

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Question 20

Showing 1 - 20 of 45

Exam 16: Performance and Discharge

Generally,neither a "time is of the essence" clause nor a "force majeure" clause will be recognized by the courts because these types of clauses are seen as a violation of public policy.

A condition:

As set forth in the Restatement Second of Contracts,which of the following duties are imposed on the parties in the performance and enforcement of a contract?

Most contracts are discharged by mutual agreement of the parties.

Mary contracted to buy 100 table lamps.Under the terms of the agreement,Mary is to pay for the lamps upon delivery.This is an example of:

Name and describe the types of conditions,explain how conditions are created,and discuss whether it is important to identify the type of condition in a contract.

Melody is a recent graduate of State Law School.She lands an impressive employment contract with the firm of Dewey,Cheathem,and Howe,Attorneys at Law,on the stated provision that she pass the upcoming bar exam.This provision in the employment agreement is a(n):

Jennifer substantially performs her service contract with Gretchen.Due to Jennifer's failure to render complete performance,Gretchen:

Sam,the seller,enters into a contract agreement to buy Betty Lou's house on the condition that he is able to secure financing at or below 6% per year.This is a:

Abdulla hired Granite Construction to build an addition onto his home.Granite Construction dug the foundation but then abandoned the project.Granite Construction is entitled to receive the full contract price minus the value of the defects.

Concurrent conditions arise when there is both a condition precedent and a condition subsequent.

M & E contracted to sell 500 music stands to Coda,Inc.M & E shipped the stands in accordance with the agreement.Coda paid for the stands as promised.The contract between M & E and Coda is discharged by:

A court:

The statement,"You will have a job with Snelling & Snelling as long as you complete your degree in business administration this May" does not create a condition because it does not include the phrase "provided that."

Linda agrees to buy Missy's Greyhound race dog for $2,000.Linda is to deliver the money and take possession of the dog the next morning.That night,running his best race ever,the dog runs away from Missy,never to be seen again.

The UCC recognizes commercial impracticability as a ground for discharge of a contract.

Oxtron,Inc.substantially performed its obligations under a service contract.Oxtron is entitled to receive:

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