Exam 7: Contract Performance: Conditions, Breach, and Remedies

In a delegation situation,the nondelegating party is called the:

Punishment damages are called:

Sally has just purchased a home and wants to have an in ground pool installed.She calls,Cool Pools,the company that put in her neighbor's pools.When they come out they do some soil tests that are standard for the industry and get the same results that they got when the other pools were put in so they give her a price quote of $16,000.When they begin excavating,they discover solid rock four feel below ground level.The neighbors had no such rock.Cool Pools stops work and informs Sally that due to the rock they will have to use explosives to remove the rock and the cost of the pool will now be $32,000.

Which of the following involves a third party substitution?

In some states,a statute of limitations is called a statute of _______.

Substantial performance will be enforced only if the deviation from complete performance is not material to the contract.

When one party has failed to perform his or her duties under a contract that party is said to be in total _______.

Appointing another person to perform one's duties under a contract is called a _______.

Restitution is classified as an equitable remedy.

Which of the following is not classified as an equitable remedy?

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

Each of the following is a discharge by mutual consent except:

Kathy and Tom have entered into a contract in which Mike has been named and included as an intended beneficiary by Kathy.Should Tom or Kathy breach the contract,Mike may sue both Tom and Kathy for breach of contract.

Mel is under contract with a textbook publisher to write a teachers manual to accompany a new textbook.The contract states that the instructor's manual is to be completed by August 1.On July 1,the publisher calls Mel and asks for an update.Mel states that he's working hard and making progress.He then states that the August 1 deadline is "doable but it's going to be tough".Based on Mel's statement the textbook publisher may claim an anticipatory repudiation and find another author to complete the project.

Impossibility of performance is subjective meaning that one of the parties may unilaterally decide that performance is impossible,thus discharging the contract.

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

Amos owns a piece of land along a country dirt road.Very few cars use the road and the land is pretty 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 indeed plans are being made to build the road and funds are being arranged.Amos then 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 their plans and decided 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?

George has entered into a contract with Mark to supply raw materials to Mark's factory.The contract does not contain an antidelegation clause.George then delegates his duty to supply the raw materials to Wayne,a competitor of Mark.This is a valid delegation.

Which of the following will not allow for an anticipatory repudiation to occur?

When you were a senior in high school,your college announced plans to build a new and modern athletic complex with pools,spas,weight rooms and exercise classes for general student use.You chose to enroll largely based on these plans as announced.You are now a senior and the building is just being started.What rights,if any do you have because you never had the opportunity to use the facility?