Question 1

The provision that Maurice did not have to buy the house unless he was able to get a loan is referred to as which of the following?

Accepted Answer

A)  A condition subsequent 
B)  A condition precedent 
C)  A bona fide condition 
D)  A condition concurrent 
E)  An exculpatory condition 
A)  A condition subsequent 
B)  A condition precedent 
C)  A bona fide condition 
D)  A condition concurrent 
E)  An exculpatory condition

Question 2

Which of the following occurs when a party unjustifiably fails to substantially perform his or her obligations under the contract?

Accepted Answer

A)  Immaterial breach 
B)  Substantial breach 
C)  Material breach 
D)  Delineated breach 
E)  Crossed breach 
A)  Immaterial breach 
B)  Substantial breach 
C)  Material breach 
D)  Delineated breach 
E)  Crossed breach

Question 3

Willis' offer to put Robert in the position he would have been in had the proper faucets and linoleum been used is based on the measure used for what type of damages?

Accepted Answer

A)  Nominal 
B)  Punitive 
C)  Compensatory 
D)  Liquidated 
E)  Consequential 
A)  Nominal 
B)  Punitive 
C)  Compensatory 
D)  Liquidated 
E)  Consequential

Question 4

An offer of performance by being ready,willing,and able to perform is known as ____.

Accepted Answer

A)  Offering 
B)  Showing 
C)  Tender 
D)  Completer 
E)  Implied acceptance 
A)  Offering 
B)  Showing 
C)  Tender 
D)  Completer 
E)  Implied acceptance

Question 5

The provision that the seller will release Maurice from any obligation if he lost his job is referred to as which of the following?

Accepted Answer

A)  A condition subsequent 
B)  A condition precedent 
C)  A bona fide condition 
D)  A condition concurrent 
E)  An exculpatory condition 
A)  A condition subsequent 
B)  A condition precedent 
C)  A bona fide condition 
D)  A condition concurrent 
E)  An exculpatory condition

Question 6

Under which of the following type of damages do the parties specify in advance the damages if there is a particular kind of breach?

Accepted Answer

A)  Consequential 
B)  Punitive 
C)  Liquidated 
D)  Nominal 
E)  Repugnant 
A)  Consequential 
B)  Punitive 
C)  Liquidated 
D)  Nominal 
E)  Repugnant

Question 7

When an enforceable contract does not exist,the court may grant a recovery based on quasi-contract in order to prevent an injustice from occurring.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is true regarding the result in the case in the text Thrifty Rent-A-Car System v.South Florida Transport,in which the plaintiffs sued the defendant,the operator of a Thrifty franchise,for amounts owed,but the defendant resisted payment on the basis that several hurricanes rendered the business operations commercially impractical?

Accepted Answer

A)  The court ruled that the bad weather completely excused the defendant's performance. 
B)  The court ruled that the parties had to jointly bear the burden of bad weather and that 50% of what the defendant owed would be excused. 
C)  The court ruled that the defendant was legally entitled to additional time in which to pay, but that the defendant would be required to pay all amounts owed. 
D)  The plaintiffs were entitled to recover because the defendant failed to anticipatorily repudiate the contract. 
E)  The plaintiffs were entitled to recover for reasons including that the nonoccurrence of hurricanes was not a basic assumption of the agreement. 
A)  The court ruled that the bad weather completely excused the defendant's performance. 
B)  The court ruled that the parties had to jointly bear the burden of bad weather and that 50% of what the defendant owed would be excused. 
C)  The court ruled that the defendant was legally entitled to additional time in which to pay, but that the defendant would be required to pay all amounts owed. 
D)  The plaintiffs were entitled to recover because the defendant failed to anticipatorily repudiate the contract. 
E)  The plaintiffs were entitled to recover for reasons including that the nonoccurrence of hurricanes was not a basic assumption of the agreement.

Question 9

Substitution of a party to a contract is called guaranteeing.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following types of damages are designed to punish the defendant and deter him and others from engaging in similar behavior in the future?

Accepted Answer

A)  Consequential 
B)  Punitive 
C)  Liquidated 
D)  Nominal 
E)  Repugnant 
A)  Consequential 
B)  Punitive 
C)  Liquidated 
D)  Nominal 
E)  Repugnant

Question 11

In a case where no actual damages result from the breach of a contract,the court may award the plaintiff nominal damages.

Accepted Answer

A) True 
 B)False

Question 12

A condition ______ is a future event that terminates the obligations of the parties when it occurs.

Accepted Answer

A)  Precedent 
B)  Subsequent 
C)  Concurrent 
D)  At large 
E)  Certain 
A)  Precedent 
B)  Subsequent 
C)  Concurrent 
D)  At large 
E)  Certain

Question 13

Which of the following damages are designed to put the plaintiff in the position he or she would have been in had the contract been fully performed?

Accepted Answer

A)  Equitable 
B)  Compensatory 
C)  Public 
D)  Legal 
E)  Punitive 
A)  Equitable 
B)  Compensatory 
C)  Public 
D)  Legal 
E)  Punitive

Question 14

Which of the following are the two primary kinds of performance?

Accepted Answer

A)  Partial and significant 
B)  Partial and complete 
C)  Partial and substantial 
D)  Complete and substantial 
E)  Complete and significant 
A)  Partial and significant 
B)  Partial and complete 
C)  Partial and substantial 
D)  Complete and substantial 
E)  Complete and significant

Question 15

Which of the following are foreseeable damages within the contemplation of the parties at the time the contract was made,and that result from special facts and circumstances arising outside the contract itself?

Accepted Answer

A)  Consequential 
B)  Punitive 
C)  Liquidated 
D)  Nominal 
E)  Repugnant 
A)  Consequential 
B)  Punitive 
C)  Liquidated 
D)  Nominal 
E)  Repugnant

Question 16

Which of the following requires that the breaching party fulfill the terms of the agreement?

Accepted Answer

A)  Specific obligation 
B)  Specific performance 
C)  Absolute obligation 
D)  Identified obligation 
E)  Absolute performance 
A)  Specific obligation 
B)  Specific performance 
C)  Absolute obligation 
D)  Identified obligation 
E)  Absolute performance

Question 17

Contractual conditions may be expressly inserted into the contract by the parties but may not be implied by law.

Accepted Answer

A) True 
 B)False

Question 18

Set forth the elements for a finding of substantial performance and the effect of a finding of substantial performance on damages.

Accepted Answer

Substantial performance occurs when the

Question 19

Which of the following is an order either forcing a person to do something or prohibiting a person from doing something?

Accepted Answer

A)  Specification 
B)  Directive 
C)  Instructional edict 
D)  Demand 
E)  Injunction 
A)  Specification 
B)  Directive 
C)  Instructional edict 
D)  Demand 
E)  Injunction

Question 20

Which of the following describes conditions that are not explicitly stated but are inferred from the nature and language of the contract?

Accepted Answer

A)  Express 
B)  Implied 
C)  Conditional 
D)  Concurrent 
E)  At large 
A)  Express 
B)  Implied 
C)  Conditional 
D)  Concurrent 
E)  At large

Exam 20: Performance,Breach of Contract,discharge,and Remedies

The provision that Maurice did not have to buy the house unless he was able to get a loan is referred to as which of the following?

Which of the following occurs when a party unjustifiably fails to substantially perform his or her obligations under the contract?

Willis' offer to put Robert in the position he would have been in had the proper faucets and linoleum been used is based on the measure used for what type of damages?

An offer of performance by being ready,willing,and able to perform is known as ____.

The provision that the seller will release Maurice from any obligation if he lost his job is referred to as which of the following?

Under which of the following type of damages do the parties specify in advance the damages if there is a particular kind of breach?

When an enforceable contract does not exist,the court may grant a recovery based on quasi-contract in order to prevent an injustice from occurring.

Substitution of a party to a contract is called guaranteeing.

Which of the following types of damages are designed to punish the defendant and deter him and others from engaging in similar behavior in the future?

In a case where no actual damages result from the breach of a contract,the court may award the plaintiff nominal damages.

A condition ______ is a future event that terminates the obligations of the parties when it occurs.

Which of the following damages are designed to put the plaintiff in the position he or she would have been in had the contract been fully performed?

Which of the following are the two primary kinds of performance?

Which of the following are foreseeable damages within the contemplation of the parties at the time the contract was made,and that result from special facts and circumstances arising outside the contract itself?

Which of the following requires that the breaching party fulfill the terms of the agreement?

Contractual conditions may be expressly inserted into the contract by the parties but may not be implied by law.

Set forth the elements for a finding of substantial performance and the effect of a finding of substantial performance on damages.

Which of the following is an order either forcing a person to do something or prohibiting a person from doing something?

Which of the following describes conditions that are not explicitly stated but are inferred from the nature and language of the contract?

An Introduction to Dynamic Business Law

Business Ethics

The Uslegal System

Alternative Dispute Resolution

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Introduction to Contracts

Agreement

Consideration

Capacity and Illegality

Reality of Assent

Contracts in Writing

Third Party Rights to Contracts

Introduction to Sales and Lease Contracts

Title,Risk of Loss,and Insurable Interest

Performance and Obligations Under Sales and Lease Contracts

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, Holder in Due Course, and Defenses

Liability,defenses,and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organizations

Partnerships: Nature, Formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, Officers, and Shareholders

Corporations: Mergers, Consolidations, and Termination

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, Personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

Wills and Trusts

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