ch.7

Question 1

Perfect performance is the only way for the parties to an agreement to satisfy their affirmative duty of good faith and fair dealing.

Answer 1

false

Question 2

If one party to a contract uses any form of unfair coercion to induce another party to enter or modify a contract, the coerced party may avoid the contract based on ________

Answer 2

duress

Question 3

The good faith requirement is ordinarily met by the parties performing their contract obligations completely. This is a known as ________blank performance.

Answer 3

perfect

Question 4

Liquidated damages are damages that the parties to a contract agree to ahead of time.

Answer 4

true

Question 5

When a party to a contract fails to satisfy their obligation to perform, they have discharged that obligation.

Answer 5

false

Question 6

Circumstances in which contract duties are nondelegable include all but which of the following?

Answer 6

When the other party to the contract expresses concerns or reservations about the delegation

Question 7

When the parties have imperfectly expressed their agreement and this imperfection results in a dispute, a court may change the contract by rewriting it so it conforms to the parties’ actual intentions. This contract modification is called ________

Answer 7

reformation

Question 8

Consequential damages compensate the nonbreaching party for ________blank losses not covered by compensatory damages.

Answer 8

foreseeable indirect

Question 9

Which of the following is true regarding the partial breach of a contract?

Answer 9

The nonbreaching party may not be relieved from performing; however, the nonbreaching party may still recover damages related to the breach.

Question 10

The statute of frauds does not apply to contracts that involve the sale of a land interest.

Answer 10

false