Exam 7: Contract Enforceability and Performance

The process by which parties to a contract perform their obligations in good faith and fulfill the terms of the contract is called _______.

Anticipatory repudiation may be used when a party has knowledge that either a complete or a partial breach will occur by the other party.

Unless a contract for services calls for unique personal services,that contract cannot be discharged by impossibility.

Clyde contracts with Seaside Resorts to rent an oceanfront room for a romantic weekend with his girlfriend Anne.In fact,Clyde intends to propose to Anne on the beach under the full moon during their stay.He made this decision after booking the room.The contract with Seaside Resorts requires a $250 deposit with the remaining $250 due upon check-in.The deposit is nonrefundable unless the reservation is canceled at least 48 hours prior to check-in.The day before they are to leave for the resort,Clyde and Anne have a huge fight and break up.If Clyde calls Seaside,cancels the reservation,and demands a refund of his deposit,is Seaside legally obligated to refund Clyde's money?

Patios R Us contracts with Karl's Concrete to have 35 yards of concrete delivered to a job site it is working on.Payment is to be made 30 days after delivery.Five days after the concrete is delivered,Patios R Us files for bankruptcy and the filing is accepted by the court.Karl cannot sue to enforce the contract and receive payment.

Assignments require the consent and agreement of all parties to the contract.

How does an assignment differ from a delegation? When are they permitted,and when are they not permitted?

When a party breaches a contract,the non-breaching party always may choose between seeking legal or equitable remedies.

Lon has just come home from serving in the Marines and contracts with a local car dealership to purchase a car.The car must be ordered,and payment is to be made when the car arrives.The next day,Lon receives orders to return to active duty.Realizing that he doesn't need the car,he brings Tony to the dealership and asks that Tony substitute for him.Tony will take delivery and ownership of the car,and Tony will pay the dealership upon delivery.The dealership agrees to have Tony substitute for Lon.What has occurred?

In Hadley v.Baxendale,when Hadley sued because Baxendale took unnecessary time to get a crankshaft repaired,causing Hadley's mill to close for an extended time,the court found

A rescission of a contract may occur when one party chooses to end the agreement.

Moe has entered into a contract with Larry.Subsequently,Moe assigns his rights in that contract to Curly.Which of the following would not prevent that assignment?

Amos owns a piece of land along a country dirt road.Very few cars use the road,and the land is relatively secluded.One day Amos hears that the county is planning to build a major highway that will go right along the border of his property.He checks the newspaper and sees that plans to build the road are being made and funds are being arranged.Amos immediately drains his modest bank account and borrows money from his family and friends to erect a diner on his property to attract the highway drivers.Just as he finishes construction of the diner,the county changes its plans and decides to build the highway along another route,miles from Amos's property.Amos now has a shiny new diner,miles from any traffic and essentially in the middle of nowhere.What legal options does Amos have,if any?

In what way do legal remedies and equitable remedies differ?

Which of the following is not an equitable remedy?

A major-league baseball team based on the North side of Chicago is in the playoffs and doing well.Behind the left-field wall there is an apartment building,and the owner advertises,"Space available on the apartment building roof with a clear view of the field for the World Series.Bring a lawn chair,your radio,and a cooler and enjoy the game.Just $50 per game." Bart,a lifelong fan,answers the ad and pays the building owner $100 to reserve space for the first two games.Unfortunately,the team fails to advance to the World Series.

Tina is an adjunct professor who is teaching under a one-course contract.With six weeks to go in the course,she is offered a tenure track position at another school that requires her to start within a week.When Tina approaches the administration,what options are available,if any,regarding the adjunct contract and her desire to leave early?

Robert and Philip are named as beneficiaries under Alan's insurance policy.Robert and Philip would specifically be considered to be _______ beneficiaries of the policy.

Which of the following is classified as an equitable remedy?

Lisa is doing some landscaping around her house and ordered a delivery of topsoil.Her contract with the landscape supply company states that the payment for the topsoil must be paid when the truck arrives at her house to deliver the soil.The requirement that payment be made on delivery is an example of a concurrent condition.