Question 1

To have standing to sue under a contract, the third-party beneficiary must be an incidental beneficiary.

Accepted Answer

A) True 
 B)False  False

Question 2

Match the terms with their descriptions:
-Nominal damages

Accepted Answer

A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty 
A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty E

Question 3

What term describes the situation when one of the parties fails to carry out the terms of the contract?

Accepted Answer

A)  Nudum pactum 
B)  Promissory estoppel 
C)  Accord and satisfaction 
D)  Breach of contract 
A)  Nudum pactum 
B)  Promissory estoppel 
C)  Accord and satisfaction 
D)  Breach of contract D

Question 4

Damages compensating the plaintiff for actual losses resulting from the breach of contract are called ________.

Accepted Answer

The answer of Damages compensating the plaintiff for actual losses...

Question 5

One of the primary ways to end contractual obligation is ________ of law.

Accepted Answer

The answer of One of the primary ways to end...

Question 6

Bill offered Diana to buy his bicycle for $500, and Diana agreed to pay for it. Bill owed $500 to Miranda, so he and Miranda agreed that Miranda will receive $500 from Diana. Diana also made a contract with Mr. White to dance at his wedding. After Diana broke her leg, she transferred her obligations under both contracts: she made an agreement with Romeo that he would buy Bill's bicycle and dance at Mr. White's wedding. Discuss what transfers of contractual rights and duties happened in this scenario.

Accepted Answer

Firstly, Bill, the assignor, made an ass

Question 7

Persons delegating their duties under a contract are not liable under the contract for the performance.

Accepted Answer

A) True 
 B)False

Question 8

Define a third-party beneficiary. Compare and contrast assignment and delegation.

Accepted Answer

Definition: A third-party beneficiary is

Question 9

Match the terms with their descriptions:
-Tender of performance

Accepted Answer

A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty 
A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty

Question 10

What term describes a party benefitting under a contract without being a party to that contract?

Accepted Answer

A)  Extra beneficiary 
B)  Bonus beneficiary 
C)  Additional beneficiary 
D)  Third-party beneficiary 
A)  Extra beneficiary 
B)  Bonus beneficiary 
C)  Additional beneficiary 
D)  Third-party beneficiary

Question 11

Someone who is benefited by a performance of the contract without being a party to a contract is called a(n) ________ beneficiary.

Accepted Answer

The answer of Someone who is benefited by a performance...

Question 12

There are several ways to end contractual obligations.

Accepted Answer

A) True 
 B)False

Question 13

What is a way to end contractual obligations?

Accepted Answer

A)  Assignment 
B)  Breach of contract 
C)  Delegation 
D)  All of the above 
A)  Assignment 
B)  Breach of contract 
C)  Delegation 
D)  All of the above

Question 14

What term describes damages that resulted from the consequences of the breach?

Accepted Answer

A)  Consequential 
B)  Nominal 
C)  Actual 
D)  Compensatory 
A)  Consequential 
B)  Nominal 
C)  Actual 
D)  Compensatory

Question 15

What term describes a person transferring his or her contractual right by assignment?

Accepted Answer

A)  Assignor 
B)  Assignee 
C)  Promisor 
D)  Promisee 
A)  Assignor 
B)  Assignee 
C)  Promisor 
D)  Promisee

Question 16

What term describes the offering to the other party of the money owed under the contract?

Accepted Answer

A)  Tender of performance 
B)  Tender of payment 
C)  Substantial performance 
D)  Liquidated damages 
A)  Tender of performance 
B)  Tender of payment 
C)  Substantial performance 
D)  Liquidated damages

Question 17

Match the terms with their descriptions:
-Assignment

Accepted Answer

A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty 
A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty

Question 18

Match the terms with their descriptions:
-Impossibility

Accepted Answer

A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty 
A)  Method of discharging a contract which is impossible to perform 
B)  Method of discharging a contract by operation of law 
C)  Time is critical 
D)  Transfer of a contract right 
E)  Damages in name only
F) Legal relationship existing between contracting parties
G) Offering to do that which one has agreed to do under the terms of the contract
H) One of the principal ways of ending contractual obligations
I) Someone who is indirectly benefited by a contract
J) Transfer of a contract duty

Question 19

Some states allow to bring a suit at the moment of an anticipatory breach.

Accepted Answer

A) True 
 B)False

Question 20

The time for performance of a contract is always important to the parties.

Accepted Answer

A) True 
 B)False

Exam 20: Third Parties and Discharge of Contracts

To have standing to sue under a contract, the third-party beneficiary must be an incidental beneficiary.

Match the terms with their descriptions: -Nominal damages

What term describes the situation when one of the parties fails to carry out the terms of the contract?

Damages compensating the plaintiff for actual losses resulting from the breach of contract are called ________.

One of the primary ways to end contractual obligation is ________ of law.

Persons delegating their duties under a contract are not liable under the contract for the performance.

Define a third-party beneficiary. Compare and contrast assignment and delegation.

Match the terms with their descriptions: -Tender of performance

What term describes a party benefitting under a contract without being a party to that contract?

Someone who is benefited by a performance of the contract without being a party to a contract is called a(n) ________ beneficiary.

There are several ways to end contractual obligations.

What is a way to end contractual obligations?

What term describes damages that resulted from the consequences of the breach?

What term describes a person transferring his or her contractual right by assignment?

What term describes the offering to the other party of the money owed under the contract?

Match the terms with their descriptions: -Assignment

Match the terms with their descriptions: -Impossibility

Some states allow to bring a suit at the moment of an anticipatory breach.

The time for performance of a contract is always important to the parties.

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