Question 1

Laramie contracts to provide cattle-herding services to Miles for $1,400 per month. Laramie cannot transfer this duty​

Accepted Answer

A) under any circumstances. 
B) without continuing to be potentially liable. 
C) without Miles's consent. 
D) without paying Miles at least one monthly fee.Fact Pattern 10-1 Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery. 
A) under any circumstances. 
B) without continuing to be potentially liable. 
C) without Miles's consent. 
D) without paying Miles at least one monthly fee.Fact Pattern 10-1 Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery.

Question 2

Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, its performance will be​

Accepted Answer

A) absolute. 
B) complete. 
C) material. 
D) substantial. 
A) absolute. 
B) complete. 
C) material. 
D) substantial.

Question 3

Expenses that are caused directly by a breach of a contract are known as primary damages.

Accepted Answer

A) True 
 B)False

Question 4

Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre's Soup Spoons Bistro with Dierdre's payment due on August 1. On August 1, her bank is closed, and for this reason, she claims that she cannot pay on time. In this situation​

Accepted Answer

A) Dierdre's bank is liable to Contractors Service. 
B) Dierdre is in breach of contract. 
C) the contract is discharged. 
D) the contract is suspended. 
A) Dierdre's bank is liable to Contractors Service. 
B) Dierdre is in breach of contract. 
C) the contract is discharged. 
D) the contract is suspended.

Question 5

Damages that compensate the non breaching party for the loss of a bargain are known as consecutive damages.

Accepted Answer

A) True 
 B)False

Question 6

Orchid and Peony enter into a contract for the sale of Orchid's textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. A transfer of this right is​

Accepted Answer

A) a delegation. 
B) an assignment. 
C) prohibited. 
D) a third-party beneficiary contract. 
A) a delegation. 
B) an assignment. 
C) prohibited. 
D) a third-party beneficiary contract.

Question 7

A breach of contract entitles the non breaching party to sue for monetary damages.

Accepted Answer

A) True 
 B)False

Question 8

In most situations, when a breach of contract occurs, the innocent injured party is held to a duty to mitigate the damages.

Accepted Answer

A) True 
 B)False

Question 9

Tile & Grout (T&G) contracts to resurface the insides of the pools at Water World Park. T&G knows that without the resurfacing, Water World will have to delay its seasonal opening. T&G does not perform as promised. As consequential damages, Water World can recover​

Accepted Answer

A) the cost of new pools. 
B) the difference between T&G's price and the eventual cost of resurfacing. 
C) the loss of profit from the delayed opening. 
D) nothing. 
A) the cost of new pools. 
B) the difference between T&G's price and the eventual cost of resurfacing. 
C) the loss of profit from the delayed opening. 
D) nothing.

Question 10

​The measure of compensatory damages often varies by type of contract.

Accepted Answer

A) True 
 B)False

Question 11

Rikki agrees to sell her Sunrise Breakfast Café to Tia. As part of the deal, Rikki signs a covenant not to open a competing business within a hundred-mile radius for ten years. If this covenant is later determined to be unreasonable, the appropriate remedy is most likely​

Accepted Answer

A) damages. 
B) reformation. 
C) rescission. 
D) specific performance. 
A) damages. 
B) reformation. 
C) rescission. 
D) specific performance.

Question 12

A contract for a sale of land from Bayside Properties, Inc., to City Development Corporation contains an erroneous legal description. The most appropriate remedy for these parties is​

Accepted Answer

A) a quasi contract. 
B) reformation. 
C) rescission. 
D) specific performance. 
A) a quasi contract. 
B) reformation. 
C) rescission. 
D) specific performance.

Laramie contracts to provide cattle-herding services to Miles for $1,400 per month. Laramie cannot transfer this duty

Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, its performance will be

Expenses that are caused directly by a breach of a contract are known as primary damages.

Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre's Soup Spoons Bistro with Dierdre's payment due on August 1. On August 1, her bank is closed, and for this reason, she claims that she cannot pay on time. In this situation

Damages that compensate the non breaching party for the loss of a bargain are known as consecutive damages.

Orchid and Peony enter into a contract for the sale of Orchid's textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. A transfer of this right is

A breach of contract entitles the non breaching party to sue for monetary damages.

In most situations, when a breach of contract occurs, the innocent injured party is held to a duty to mitigate the damages.

Tile & Grout (T&G) contracts to resurface the insides of the pools at Water World Park. T&G knows that without the resurfacing, Water World will have to delay its seasonal opening. T&G does not perform as promised. As consequential damages, Water World can recover

The measure of compensatory damages often varies by type of contract.

Rikki agrees to sell her Sunrise Breakfast Café to Tia. As part of the deal, Rikki signs a covenant not to open a competing business within a hundred-mile radius for ten years. If this covenant is later determined to be unreasonable, the appropriate remedy is most likely

A contract for a sale of land from Bayside Properties, Inc., to City Development Corporation contains an erroneous legal description. The most appropriate remedy for these parties is

Legal and Constitutional Foundations of Business

Courts and Alternative Dispute Resolution

Tort Law and Product Liability

Intellectual Property

Internet Law, Social Media, and Privacy

Criminal Law and Cyber Crime

Business Ethics

Agreement and Consideration in Contracts

Capacity, Legality, and Enforceability

Sales and Lease Contracts

Performance and Breach in Sales and Lease Contracts

Consumer Law

Negotiable Instruments

Banking in the Digital Age

Creditors Rights and Bankruptcy

Agency Relationships in Business

Employment Law

The Entrepreneurs Options

Corporations

Investor Protection, Insider Trading, and Corporate Governance

Antitrust Law and Promoting Competition

Personal Property, Bailments, and Insurance

Real Property and Environmental Law

International Law in a Global Economy

Filters

Exam 10: Contract Performance, Breach, and Remedies

Laramie contracts to provide cattle-herding services to Miles for $1,400 per month. Laramie cannot transfer this duty​

Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, its performance will be​

Expenses that are caused directly by a breach of a contract are known as primary damages.

Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre's Soup Spoons Bistro with Dierdre's payment due on August 1. On August 1, her bank is closed, and for this reason, she claims that she cannot pay on time. In this situation​

Damages that compensate the non breaching party for the loss of a bargain are known as consecutive damages.

Orchid and Peony enter into a contract for the sale of Orchid's textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. A transfer of this right is​

A breach of contract entitles the non breaching party to sue for monetary damages.

In most situations, when a breach of contract occurs, the innocent injured party is held to a duty to mitigate the damages.

Tile & Grout (T&G) contracts to resurface the insides of the pools at Water World Park. T&G knows that without the resurfacing, Water World will have to delay its seasonal opening. T&G does not perform as promised. As consequential damages, Water World can recover​

​The measure of compensatory damages often varies by type of contract.

Rikki agrees to sell her Sunrise Breakfast Café to Tia. As part of the deal, Rikki signs a covenant not to open a competing business within a hundred-mile radius for ten years. If this covenant is later determined to be unreasonable, the appropriate remedy is most likely​

A contract for a sale of land from Bayside Properties, Inc., to City Development Corporation contains an erroneous legal description. The most appropriate remedy for these parties is​

Legal and Constitutional Foundations of Business

Courts and Alternative Dispute Resolution

Tort Law and Product Liability

Intellectual Property

Internet Law, Social Media, and Privacy

Criminal Law and Cyber Crime

Business Ethics

Agreement and Consideration in Contracts

Capacity, Legality, and Enforceability

Sales and Lease Contracts

Performance and Breach in Sales and Lease Contracts

Consumer Law

Negotiable Instruments

Banking in the Digital Age

Creditors Rights and Bankruptcy

Agency Relationships in Business

Employment Law

The Entrepreneurs Options

Corporations

Investor Protection, Insider Trading, and Corporate Governance

Antitrust Law and Promoting Competition

Personal Property, Bailments, and Insurance

Real Property and Environmental Law

International Law in a Global Economy

Filters

Laramie contracts to provide cattle-herding services to Miles for $1,400 per month. Laramie cannot transfer this duty

Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, its performance will be

Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre's Soup Spoons Bistro with Dierdre's payment due on August 1. On August 1, her bank is closed, and for this reason, she claims that she cannot pay on time. In this situation

Orchid and Peony enter into a contract for the sale of Orchid's textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. A transfer of this right is

Tile & Grout (T&G) contracts to resurface the insides of the pools at Water World Park. T&G knows that without the resurfacing, Water World will have to delay its seasonal opening. T&G does not perform as promised. As consequential damages, Water World can recover

The measure of compensatory damages often varies by type of contract.

Rikki agrees to sell her Sunrise Breakfast Café to Tia. As part of the deal, Rikki signs a covenant not to open a competing business within a hundred-mile radius for ten years. If this covenant is later determined to be unreasonable, the appropriate remedy is most likely

A contract for a sale of land from Bayside Properties, Inc., to City Development Corporation contains an erroneous legal description. The most appropriate remedy for these parties is