Exam 9: Contractual Performance and Breach

If a word of a term in a written contract has _____, particular to the industry to which the parties belong, the court will give the term or word that meaning.

Finishing the construction of a home two days after the contract called for completion (no injury occurs) most likely will be considered:

_____ are court-awarded damages to put the plaintiff in the same position as if the contract had been performed.

Explain how condition precedent and condition subsequent affect a contract?

Apparent authority can be inferred from the acts of an agent who holds a position of authority or who had actual authority in previous situations.

Explain the three fold approach to the agency relationship.

When parties fail to provide details, the law states the buyer's payment is a condition that must be satisfied after the seller has performed his/her duty to deliver.

Shareholders of corporations and members of LLCs are protected from tort liability that exceeds the amount of their investment.

What does tender performance mean?

Any time an employee is liable for tortious acts in the scope of employment, the employer is also liable.

Mention the most common ways to achieve a discharge.

If a contract is silent as to delivery, there is a presumption that the buyer is responsible for picking up the goods at the seller's location.

Homer hired Bob Builders Pvt. Ltd to construct his house. They signed a contract, which stated that Bob Builders wouldill complete the work by April 4th 2012, and Homer wouldill pay them in full. Homer has the right to deny them payments if they miss the date.

Any time an employee is liable for tortious acts in the scope of employment, the employer is also liable. This is because of the tort doctrine of _____.

Rescission is a court-awarded damage arising from unusual losses which the parties knew would result from breach of the contract.

_____ damages are awarded by the court to the plaintiff for a breach of contract which causes no financial injury to the plaintiff.

Discuss implied and apparent authority.

Jessica hires Bob Builders to construct a house for her. The contract specifies that grade A+ carpeting is to be installed on the entire second floor. Bob accidentally installs grade A shag carpeting instead. Few people except for carpeting experts can tell the difference. Jessica, however, refuses to pay for the construction citing that Bob has breached the contract. Which of the following is true of this situation?

_____ can be inferred from the acts of an agent who holds a position of authority or who had actual authority in the previous situation.

Once the seller transfers the goods to the shipper, the burden of damages in transit also rests with him/her.