Question 1

At common law, to do absolutely everything that the parties agreed to do was known as complete performance.

Accepted Answer

A) True 
 B)False

Question 2

Performance of the contract ends parties' contractual obligations.

Accepted Answer

A) True 
 B)False

Question 3

The injured party may bring lawsuit for ________ when a breach of contract occurs.

Accepted Answer

The answer of The injured party may bring lawsuit for...

Question 4

Contracts that are impossible to perform may be discharged by a defense called ________.

Accepted Answer

The answer of Contracts that are impossible to perform may...

Question 5

Define damages. Compare and contrast punitive damages and consequential damages.

Accepted Answer

Definition: Damages is the money lost as

Question 6

Bankruptcy is a legal process for discharging contractual obligations of debtors.

Accepted Answer

A) True 
 B)False

Question 7

What term describes a third-party whose benefit was the purpose of the contract?

Accepted Answer

A)  Primary beneficiary 
B)  Intended beneficiary 
C)  Deliberate beneficiary 
D)  Intentional beneficiary 
A)  Primary beneficiary 
B)  Intended beneficiary 
C)  Deliberate beneficiary 
D)  Intentional beneficiary

Question 8

Under what circumstance may some courts discharge a contract?

Accepted Answer

A)  Difficulty 
B)  Extremely high cost 
C)  Impracticability 
D)  Parties changed their minds 
A)  Difficulty 
B)  Extremely high cost 
C)  Impracticability 
D)  Parties changed their minds

Question 9

A contract is never discharged due to death or incapacity of a person who was obligated to perform personal services.

Accepted Answer

A) True 
 B)False

Question 10

Whenever a contract is breached, what is a duty of the injured party to the breaching party?

Accepted Answer

A)  Mitigate the damages 
B)  Specific performance 
C)  Delegation 
D)  Assignment 
A)  Mitigate the damages 
B)  Specific performance 
C)  Delegation 
D)  Assignment

Question 11

Match the terms with their descriptions:
-Delegation

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 12

Match the terms with their descriptions:
-Time is of the essence

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 13

What contract may be discharged due to impossibility of performance?

Accepted Answer

A)  Dancer, who made a contract to perform, broke his leg 
B)  Antic car, that had to be transported to a client, was destroyed in a fire 
C)  Architect, who made a contract to design the house, died 
D)  All of the above 
A)  Dancer, who made a contract to perform, broke his leg 
B)  Antic car, that had to be transported to a client, was destroyed in a fire 
C)  Architect, who made a contract to design the house, died 
D)  All of the above

Question 14

The transfer of a contract duty is called a(n) ________.

Accepted Answer

The answer of The transfer of a contract duty is...

Question 15

What is an example of ending of contractual obligations?

Accepted Answer

A)  Parties agree to end the contract altogether 
B)  Parties do as they agreed to do under the terms of the contract 
C)  All of the above 
D)  None of the above 
A)  Parties agree to end the contract altogether 
B)  Parties do as they agreed to do under the terms of the contract 
C)  All of the above 
D)  None of the above

Question 16

Receiving benefits by a contract performance gives all beneficiaries all legal rights under the contract.

Accepted Answer

A) True 
 B)False

Question 17

Debtors may have their contractual obligations discharged by filing of ________.

Accepted Answer

The answer of Debtors may have their contractual obligations discharged...

Question 18

Match the terms with their descriptions:
-Incidental beneficiary

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

What term describes damages awarded to the plaintiff as a measure of punishment for the defendant's egregious acts related to breaching the contract?

Accepted Answer

A)  Exemplary 
B)  Punitive 
C)  All of the above 
D)  None of the above 
A)  Exemplary 
B)  Punitive 
C)  All of the above 
D)  None of the above

Question 20

Statutes of limitations run while a plaintiff is under a disability.

Accepted Answer

A) True 
 B)False

Exam 20: Third Parties and Discharge of Contracts

At common law, to do absolutely everything that the parties agreed to do was known as complete performance.

Performance of the contract ends parties' contractual obligations.

The injured party may bring lawsuit for ________ when a breach of contract occurs.

Contracts that are impossible to perform may be discharged by a defense called ________.

Define damages. Compare and contrast punitive damages and consequential damages.

Bankruptcy is a legal process for discharging contractual obligations of debtors.

What term describes a third-party whose benefit was the purpose of the contract?

Under what circumstance may some courts discharge a contract?

A contract is never discharged due to death or incapacity of a person who was obligated to perform personal services.

Whenever a contract is breached, what is a duty of the injured party to the breaching party?

Match the terms with their descriptions: -Delegation

Match the terms with their descriptions: -Time is of the essence

What contract may be discharged due to impossibility of performance?

The transfer of a contract duty is called a(n) ________.

What is an example of ending of contractual obligations?

Receiving benefits by a contract performance gives all beneficiaries all legal rights under the contract.

Debtors may have their contractual obligations discharged by filing of ________.

Match the terms with their descriptions: -Incidental beneficiary

What term describes damages awarded to the plaintiff as a measure of punishment for the defendant's egregious acts related to breaching the contract?

Statutes of limitations run while a plaintiff is under a disability.

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