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Exam 20: Discharge and Remedies

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Question 31

Multiple Choice

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When all aspects of the parties' duties under the contract are executed perfectly, which of the following occurs?

A) Complete performance
B) Substantial performance
C) Significant performance
D) Absolute performance
E) Approved performance

F) A) and B)
G) All of the above

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Question 32

Multiple Choice

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What is the key difference between an express and an implied condition?

A) There are no differences; express and implied conditions are the same.
B) Express conditions are clearly stated while implied conditions are inferred.
C) Implied conditions are clearly stated while express conditions are inferred.
D) Only implied conditions are enforceable.
E) Only express conditions are enforceable.

F) A) and B)
G) None of the above

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Question 33

Multiple Choice

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Loyla and Barbara enter into a contract to sell snow cones where Loyla will bring the ice and flavors and Barbara will supply cups and straws. Loyla brings the ice and flavors as promised under the contract to Barbara. Loyla's obligations under the contract are ________ and she is said to be discharged.

The court may grant a recovery based on quasi-contract in order to prevent an injustice from occurring when one party thought there was an enforceable contract, but an enforceable contract does not actually exist.

Carrie and Peter enter into a contract in which Carrie agrees to wash Peter's car as long as Peter tutors Carrie's son in math during the entire time Carrie is washing the car. This is an example of which type of conditional contract?

Completion of all of the terms of a contract is required for substantial performance.

Penelope agrees to sell 100 pounds of sugar to Vito in June. In May, Penelope discovers there is a major sugar shortage and she would have to pay her supplier 1000 times more than expected. She alerts Vito in May that she does not intend to sell him the sugar. This is an example of:

How do parties generally discharge their obligations in most situations where there is a contract?

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

If a woman is having a dress custom made for her, the ________ standard applies.

Rewriting a contract to reflect what the parties had agreed on is referred to as rescission.

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

An offer of performance is known as ________ when parties offer to perform and are ready, willing, and able to perform.

List the ways by which a party's contractual obligations can be terminated.

The two types of performance include substantial performance and nominal performance.

College president Robert contracted with Denise to teach business law. Alice did a good job teaching, but became upset with Robert and refused to turn in her grades. What type of order should Robert seek to compel Denise to abide by her contract?

When there is a substitution of a party to a contract, it is called rescission.

[Dream Home] Jacob finds a dream home on the lake. He wants to buy it but is unsure whether he can get a loan. He signs a contract with the seller that he will buy the home provided that he can obtain a loan. Jacob also includes a clause in the contract with the seller stating that if he loses his job before the date the purchase contract is signed, the seller will release him from any obligation. After obtaining a loan and buying the home, Jacob decides he wants to have new windows installed. He enters into a contract with a window contractor. The window contractor visits the home, but never finds Jacob there. The contractor makes several attempts to reach Jacob, but Jacob does not return phone calls and makes no attempt to assist the contractor in arranging the window installation. -The responsibility of Jacob to make arrangements to give the window installer access to the home is a[n] ________.

Waynette contracts with Tammy to tutor her for $25 an hour in legal studies. Tammy tutors Waynette and Tammy pays her $25 at the end of the hour. This is known as a ________.

Parties can discharge their duty by being ready, willing and able to perform. This is known as tender.