Question 1

Satisfaction of an accord discharges an original contractual obligation.

Accepted Answer

A) True 
 B)False

Question 2

A contract between Drill-Bit Sharpeners,Inc.,and East Oil Mining Corporation contains a clause stating that rights under the contract cannot be assigned.This ordinarily prohibits

Accepted Answer

A) any assignment. 
B) no assignment. 
C) only an assignment of contract rights to personal services. 
D) only an assignment that would change the obligor's risk. 
A) any assignment. 
B) no assignment. 
C) only an assignment of contract rights to personal services. 
D) only an assignment that would change the obligor's risk.

Question 3

Misrepresentation of a material fact can occur by actions alone.

Accepted Answer

A) True 
 B)False

Question 4

George promises to repair Francesca's boat dock in exchange for Efrem's promise to plant trees on George's property.This is

Accepted Answer

A) a delegation. 
B) an assignment. 
C) a third party beneficiary contract. 
D) not a contract. 
A) a delegation. 
B) an assignment. 
C) a third party beneficiary contract. 
D) not a contract.

Question 5

The purpose of the doctrine of election of remedies is to permit a double recovery.

Accepted Answer

A) True 
 B)False

Question 6

Forcing someone to enter into a contract by threatening to do something that the thtreatening party has no right to do is duress.

Accepted Answer

A) True 
 B)False

Question 7

Refer to Fact Pattern 10-1.Neil's performance is most likely

Accepted Answer

A) a material breach. 
B) a minor breach. 
C) Mutual's breach. 
D) no breach. 
A) a material breach. 
B) a minor breach. 
C) Mutual's breach. 
D) no breach.

Question 8

Vicky contracts with Rashad for the delivery of hospice services to benefit Sigmund.This is

Accepted Answer

A) a delegation. 
B) an assignment. 
C) a third party beneficiary contract. 
D) not an enforceable contract. 
A) a delegation. 
B) an assignment. 
C) a third party beneficiary contract. 
D) not an enforceable contract.

Question 9

Lester and Myrtle want to rescind their contract under which Lester sold an MP3 player for $40.To rescind the contract

Accepted Answer

A) Lester must return the $40 and Myrtle must return the player. 
B) Lester must return the $40 only. 
C) Myrtle must return the player only. 
D) the parties can keep the "benefits" of their bargain. 
A) Lester must return the $40 and Myrtle must return the player. 
B) Lester must return the $40 only. 
C) Myrtle must return the player only. 
D) the parties can keep the "benefits" of their bargain.

Question 10

Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra.Kendra transfers her right to payment under the contract to County Bank.This transfer is

Accepted Answer

A) a delegation. 
B) an assignment. 
C) a third party beneficiary contract. 
D) prohibited. 
A) a delegation. 
B) an assignment. 
C) a third party beneficiary contract. 
D) prohibited.

Question 11

Jane and Kelly want Lucy to replace Kelly as a party to their contract.They can best accomplish this by

Accepted Answer

A) a mutual agreement to rescind. 
B) an accord and satisfaction. 
C) a novation. 
D) an alteration of the contract. 
A) a mutual agreement to rescind. 
B) an accord and satisfaction. 
C) a novation. 
D) an alteration of the contract.

Satisfaction of an accord discharges an original contractual obligation.

A contract between Drill-Bit Sharpeners,Inc.,and East Oil Mining Corporation contains a clause stating that rights under the contract cannot be assigned.This ordinarily prohibits

Misrepresentation of a material fact can occur by actions alone.

George promises to repair Francesca's boat dock in exchange for Efrem's promise to plant trees on George's property.This is

The purpose of the doctrine of election of remedies is to permit a double recovery.

Forcing someone to enter into a contract by threatening to do something that the thtreatening party has no right to do is duress.

Refer to Fact Pattern 10-1.Neil's performance is most likely

Vicky contracts with Rashad for the delivery of hospice services to benefit Sigmund.This is

Lester and Myrtle want to rescind their contract under which Lester sold an MP3 player for $40.To rescind the contract

Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra.Kendra transfers her right to payment under the contract to County Bank.This transfer is

Jane and Kelly want Lucy to replace Kelly as a party to their contract.They can best accomplish this by

Business and Its Legal Environment

A: Online Developments:

Ethics and Business Decision Making

Courts and Alternative Dispute Resolution

Constitutional Authority to Regulate Business

Torts,cyber Torts,and Strict Liabiity

Criminal Law and Cyber Crime

International Law in a Global Economy

Intellectual Property and Internet Law

A: Online Developments:

Formation in Traditional and E-Contracts

Sales,leases,and Product Liability

Creditor-Debtor Relations and Bankruptcy

Mortgages Foreclosures After the Recession

Small Business Organizations

A: Landmark in the Legal Environment:

Corporations

Agency

Employment,immigration,and Labor Law

Employment Discrimination

Powers and Functions of Administrative Agencies

Consumer Protection

Protecting the Environment

Real Property and Land-Use Control

Antitrust Law and Promoting Competition

Investor Protection and Corporate Governance

Filters

Exam 10: Contract Performance,breach,and Remedies

Satisfaction of an accord discharges an original contractual obligation.

A contract between Drill-Bit Sharpeners,Inc.,and East Oil Mining Corporation contains a clause stating that rights under the contract cannot be assigned.This ordinarily prohibits

Misrepresentation of a material fact can occur by actions alone.

George promises to repair Francesca's boat dock in exchange for Efrem's promise to plant trees on George's property.This is

The purpose of the doctrine of election of remedies is to permit a double recovery.

Forcing someone to enter into a contract by threatening to do something that the thtreatening party has no right to do is duress.

Refer to Fact Pattern 10-1.Neil's performance is most likely

Vicky contracts with Rashad for the delivery of hospice services to benefit Sigmund.This is

Lester and Myrtle want to rescind their contract under which Lester sold an MP3 player for $40.To rescind the contract

Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra.Kendra transfers her right to payment under the contract to County Bank.This transfer is

Jane and Kelly want Lucy to replace Kelly as a party to their contract.They can best accomplish this by

Business and Its Legal Environment

A: Online Developments:

Ethics and Business Decision Making

Courts and Alternative Dispute Resolution

Constitutional Authority to Regulate Business

Torts,cyber Torts,and Strict Liabiity

Criminal Law and Cyber Crime

International Law in a Global Economy

Intellectual Property and Internet Law

A: Online Developments:

Formation in Traditional and E-Contracts

Sales,leases,and Product Liability

Creditor-Debtor Relations and Bankruptcy

Mortgages Foreclosures After the Recession

Small Business Organizations

A: Landmark in the Legal Environment:

Corporations

Agency

Employment,immigration,and Labor Law

Employment Discrimination

Powers and Functions of Administrative Agencies

Consumer Protection

Protecting the Environment

Real Property and Land-Use Control

Antitrust Law and Promoting Competition

Investor Protection and Corporate Governance

Filters