Chapter 18&19 Flashcards
An offer to perform is a
Tender
Tender excludes
Mere expression of willingness to pay
Payments of debt by a check are not
None of the above
The substantial performance rule is irrelevant
To construction contracts (MIGHT GO BACK TO THIS ONE)
Modern federal law gives a consumer a right to rescind home-solicited sales contracts within a matter of
Days
Ordinarily application of payments
May be specified by debtor
Affecting both future and past of a contract is
Termination by Recession or NONE OF THE ABOVE (come back to this)
Agreement to a different performance of a contractual obligation, which different performance is executed, is
Accord and satisfaction
Contracts can sometimes be discharged by
ALL OF THE ABOVE
Discharge by operation of law includes
ALL OF THE ABOVE
Alteration of a written contract means discharge by operation of law if
The alteration is made by a party to the contract
A rescinding party must
Restore the other to the other’s original position
A morals clause exemplifies
Condition
Refusal of tender
Discharges party offering to perform and is basis for a lawsuit
BOTH A AND B ARE CORRECT
Expiration of time for performance specified in contract can mean
Breach
This clause contracts around impossibility doctrine
Force majeure
Discharge by impossibility keys to
Unexpected intervening act
Essentially a private statue of limitations is this clause
Contractual limitation
If a party declares before performance time he will not perform, the other party may do all but
Regard this conflict as a conflict of law
Contract damages must have been foreseeable to defendant if
Consequential
Exemplary damages also are called
Punitive
Liquidated damages are
Identified in the contract itself
A penalty is void if unreasonably large and not proper
liquidated damages
An injured party who rescinds after having paid money on the contract may recover money paid on a theory of
quasicontract
The discretionary judicial grant of specific performance will NOT be refused because
The contract is one of adhesion (COME BACK TO THIS ONE)
Judgment of a small sum, such as one dollar, is probably
Nominal damages
If there has been waiver of a contractual breach, the waiving party can
None of the above
Reservation of right is most relevant given
Accepting a tendered defective performance
Losses not necessarily following breach, but doing so in a particular case, are
Consequential
Failure to act as contractually required is
Breach
Deterring ordering the specific performance of personal services
13th Amendment
Damages are measured as reasonable value in
quasicontract
Special damages are
Consequential
Party injured by contractual breach must
Mitigate damages
Material breach of contract keys to
Injunctions (?)
Specific performance is
Equitable remedy
Order to former employee to stop competing is
Injunction
Written contract incorrectly stating agreement suggests
Reformation
Each party ordinarily pays own attorney fees under
American Rule
Exulpatory clause completely .. gross neglience
Unenforcebale?
TRUE OR FALSE
Frustration of purpose doctrine ties to change circumstances
TRUE
TRUE OR FALSE
Commercial impractibility doctrine ties to nonoccurence of basic contractual assumption
TRUE
TRUE OR FALSE
Acts of God ordinarily will terminate a contract
FALSE
TRUE OR FALSE
Contracts nowadays commonly include a Weather Clause
TRUE
TRUE OR FALSE
Discharge by impossibility is judged subjectively
TRUE(?)
TRUE OR FALSE
Anticipatory repudiation can never be expressed by conduct
FALSE
TRUE OR FALSE
Anticipatory breach is impossible under American Law
FALSE
TRUE OR FALSE
Ordinary monetary damages gives the injured party “the benefit of the bargain”
TRUE
TRUE OR FALSE
Given valid liquidated…
IDK
