Question 1

If the contract does not state otherwise, standard goods under a contract for sale to meet the satisfaction of the buyer must:

Accepted Answer

A)  meet the buyer's actual satisfaction, if honest and in good faith, even if unreasonable. 
B)  meet the buyer's actual satisfaction, only if reasonable. 
C)  meet a subjective standard. 
D)  satisfy a reasonable person. 
A)  meet the buyer's actual satisfaction, if honest and in good faith, even if unreasonable. 
B)  meet the buyer's actual satisfaction, only if reasonable. 
C)  meet a subjective standard. 
D)  satisfy a reasonable person.

Question 2

a. Velinda and Thelma enter into a contract. What are the ways in which Velinda can be discharged? 
b. What are the ways in which both parties can be discharged?

Accepted Answer

a. Velinda is discharged if:
(1) she ful

Question 3

Luke and Grace have an executory contract for the sale of some goods. Luke files for bankruptcy and is then discharged by the bankruptcy court. Luke has no obligation to perform under the contract with Grace.

Accepted Answer

A) True 
 B)False

Question 4

Carl, a contractor, has a contract with Ron, a realtor, to construct a new condominium complex. The contract provides that Carl must furnish a certificate of occupancy and conformity with the local fire code before Ron has an obligation to pay. The furnishing of the certificate is an implied-in-fact condition subsequent to the construction of the building.

Accepted Answer

A) True 
 B)False

Question 5

Russell contracts to install for Nina her choice of living room carpeting. Classify as an express, implied-in-fact, or implied-in law condition Nina's notification to Russell of her choice of type and color of carpeting. Compare and contrast this condition with the other two types of contractual conditions.

Accepted Answer

Nina's notification of choice of type an

Question 6

A condition precedent  is a much more frequent occurrence than a condition subsequent .

Accepted Answer

A) True 
 B)False

Question 7

Discharge by performance is the most frequent method of discharging a contractual duty.

Accepted Answer

A) True 
 B)False

Question 8

A fundamental difference exists between the breach or nonperformance of a contractual promise and the failure or nonhappening of a condition.

Accepted Answer

A) True 
 B)False

Question 9

Objective impossibility occurs if a particular contracting party is unable to perform because of financial inability or lack of competence.

Accepted Answer

A) True 
 B)False

Question 10

A material breach by the seller will discharge the buyer from his obligations under a contract.

Accepted Answer

A) True 
 B)False

Question 11

Paul, a contractor, has a contract to build a new office building for Bill. The contract contains a provision requiring Paul to furnish a certificate of occupancy from the building inspector before Bill is required to pay. This provision is:

Accepted Answer

A)  an express condition. 
B)  an implied-in-fact condition. 
C)  an implied-in-law condition. 
D)  a condition subsequent. 
A)  an express condition. 
B)  an implied-in-fact condition. 
C)  an implied-in-law condition. 
D)  a condition subsequent.

Question 12

Refusal of a tender of performance by one party to a bilateral contract will:

Accepted Answer

A)  be treated as a repudiation, excusing the tendering party from further duty of performance under the contract. 
B)  not discharge either party from further duty of performance under the contract until 30 days past the term of the contract. 
C)  be considered a condition subsequent. 
D)  render the contract void. 
A)  be treated as a repudiation, excusing the tendering party from further duty of performance under the contract. 
B)  not discharge either party from further duty of performance under the contract until 30 days past the term of the contract. 
C)  be considered a condition subsequent. 
D)  render the contract void.

Exam 17: Performance Breach and Discharge

If the contract does not state otherwise, standard goods under a contract for sale to meet the satisfaction of the buyer must:

a. Velinda and Thelma enter into a contract. What are the ways in which Velinda can be discharged? b. What are the ways in which both parties can be discharged?

Luke and Grace have an executory contract for the sale of some goods. Luke files for bankruptcy and is then discharged by the bankruptcy court. Luke has no obligation to perform under the contract with Grace.

A condition precedent is a much more frequent occurrence than a condition subsequent .

Discharge by performance is the most frequent method of discharging a contractual duty.

A fundamental difference exists between the breach or nonperformance of a contractual promise and the failure or nonhappening of a condition.

Objective impossibility occurs if a particular contracting party is unable to perform because of financial inability or lack of competence.

A material breach by the seller will discharge the buyer from his obligations under a contract.

Paul, a contractor, has a contract to build a new office building for Bill. The contract contains a provision requiring Paul to furnish a certificate of occupancy from the building inspector before Bill is required to pay. This provision is:

Refusal of a tender of performance by one party to a bilateral contract will:

Introduction to Law

Business Ethics

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

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Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Contract Remedies

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability Warranties and Strict Liability

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Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits Collections and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

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Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

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Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

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Introduction to Property Property Insurance Bailments and Documents of Title

Interests in Real Property

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