Exam 10: Performance and Breach of Contracts

In order to prove fraud,which of these elements must be shown?

The measure of damages awarded to an innocent party for fraud is the difference between the value of the property as represented and the actual value of the property.

A clause in a contract in which the parties specify certain events that will excuse nonperformance is known as a(n)________.

A unilateral mistake is a mistake in which only one party is mistaken about a material fact regarding the subject matter of a contract.

________ refers to an equitable doctrine that permits the court to rewrite a contract to express the parties' true intentions.

Intentional misrepresentation is considered fraud.

Duress is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract.

KnockKnock,Inc.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,Inc.will only purchase steel from the supplier if the material supplied is high grade Type 102 stainless steel.This is an instance of a ________.

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

The term scienter refers to the knowledge that a representation is false or that it was made without sufficient knowledge of the truth.

In terms of compliance with the Statute of Frauds and the Uniform Commercial Code,the signature of the person who is enforcing the contract is required.

Kinetosphere Automation Inc. (K.A. )makes a mandatory employment contract with all its employees.The contract states that K.A.'s employees are not permitted to work for any other organization while they are employed by K.A.If K.A.finds an employee serving another company,it can approach the court to obtain a(n)________ to prevent the employee from working in the other company.

An award of ________ orders the breaching party to perform the acts promised in a contract.

Which of the following contracts is required to be in writing in most states?

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

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

Which of the following is true of covenants and conditions?

Which of the following is true of monetary damages?

The doctrine of part performance 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 performance is necessary to avoid injustice.

Kimlon Informatics is owed $5,000 from a client for its services.The recovery period is 100 days,but Kimlon needs the money immediately.It sells the right of collecting money from its client to Quikcollect,a collection agency.Here,Kimlon Informatics is the ________.