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BLW 302 > Chapter 18 Book set > Flashcards

Chapter 18 Book set Flashcards

1
Q

Megan contracts to sell Nonny her horse for $4,000. This contract will be fully discharged when Megan and Nonny

A

exchange the horse for the money

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2
Q

When a lapse of time and a change in circumstances make it substantially more burdensome for the parties to perform, a contract is discharged.

A

True

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3
Q

Contractual obligations will be discharged when the specific subject matter of the contract is destroyed.

A

True

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4
Q

A contract promise that is absolute must be performed, or the party who made the promise will be in breach.

A

True

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5
Q

Vera enters into a contract to work as a lifeguard at Water Park for the summer in exchange for a weekly paycheck. The duties under this contract will be discharged when the duties are

A

performed

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6
Q

Dom enters into a contract to buy Ezra’s office building for a certain price subject to an appraiser’s evaluation of the structure’s condition. If the appraiser deems the condition to be substandard, the parties’ obligations will be

A

discharged

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7
Q

Tender is an unconditional offer to perform by a person who is ready, willing, and able to do so.

A

True

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8
Q

If one party’s performance on a contract is substantial, the other party’s duty to perform need only comport with the level of the rendered performance.

A

False

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9
Q

A novation requires the contracting parties to make restitution of whatever they received under the contract.

A

True

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10
Q

Range Free Farms enters into a contract to deliver to Sara’s Market a truckload of eggs for a certain payment. Range Free fails to deliver. Sara’s Market

A

does not have to pay because Range Free did not perform.

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11
Q

Bottling Company enters into a contract with Chug’s Brewery to provide certain bottling and delivery services. Before Bottling starts to work, the market price rises for the fuel for glass ovens. Bottling tells Chug’s that due to the added cost it will not perform their deal. Bottling’s contractual obligation to Chug’s is

A

breached

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12
Q

Any breach of contract allows the breaching party to negotiate to receive additional benefits in order to remedy the breach.

A

False

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13
Q

An accord and its satisfaction do not discharge an original contractual obligation.

A

False

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14
Q

Once performance has been tendered, the party making the tender has done everything possible to carry out the terms of the contract.

A

True

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15
Q

Performance becomes commercially impracticable when a foreseeable, added burden of performing increases the cost slightly.

A

False

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16
Q

If a condition to a lease for university housing that the tenant must be a student is not satisfied, the landlord’s obligations under the lease are discharged.

A

True

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17
Q

A buyer who offers to pay for goods has tendered payment but cannot yet demand delivery.

A

False

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18
Q

The most common way to terminate contractual duties is by repudiation.

A

False

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19
Q

Build-It Construction LLC agrees to build a warehouse for Corporate Storage Inc. According to the terms of the deal, Corporate does not have to pay Build-It if the warehouse is not built. Their respective promises are

A

not conditioned.

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20
Q

A seller who places goods at the disposal of a buyer has tendered delivery but cannot yet demand payment.

A

False

21
Q

There is only one way to discharge a contract—all parties must fulfill their contractual duties.

A

False

22
Q

When a party’s performance is perfect, it is complete.

A

True

23
Q

Only contracts that have been fully executed can be rescinded by agreement.

A

False

24
Q

Under the policy that a contract can be terminated if major difficulties arise, a material breach discharges the non-breaching party from a contract.

A

True

25
Q

A breach of contract occurs when a party fails to perform part or all of the required duties under a contract.

A

True

26
Q

Ghee agrees to buy Hole’s Donut Shop on the express condition that the shop’s suppliers extend the same credit terms to Ghee that the suppliers currently extend to Hole. This approval is

A

a condition precedent.

27
Q

Anticipatory repudiation of a contract is treated as a present, material breach in order to give the non-breaching party an opportunity to seek a similar deal elsewhere.

A

True

28
Q

East Bay Café orders seafood from Fresh Catch Company. Fresh places the goods at East’s disposal. Fresh’s performance under the contract is

A

complete

29
Q

The most common way to terminate contractual duties is by

A

performance

30
Q

Any contract can be discharged by agreement of the parties.

A

True

31
Q

Under a construction contract that requires a builder to meet certain specifications, complete performance is required to avoid material breach.

A

True

32
Q

To provide a point at which contracting parties can know that their duties have ended, the duty to perform a contract is always absolute.

A

False

33
Q

Sage enters into a contract to sell her condo to Tel for a certain price on a specific day. On that day, Sage unconditionally offers to perform. Sage’s offer

A

constitutes tender of performance.

34
Q

A contract is substantially performed when one party receives most of the benefits promised in the deal.

A

True

35
Q

A statute of limitations limits the amount of damages that the nonbreaching party can obtain for a breach.

A

False

36
Q

Any breach of contract effectively excuses both parties from performing.

A

False

37
Q

For mutual rescission of a contract to take place, both parties must provide additional consideration.

A

False

38
Q

If performance of a contract is not substantial, there is a material breach, which excuses the nonbreaching party from performance.

A

True

39
Q

Emil enters into a contract to buy Foley’s cultivated bottomland if County AgriCredit will lend Emil the funds to pay for the land. Emil’s duty to perform is

A

conditional

40
Q

In most contracts, promises of performance are conditioned.

A

False

41
Q

Whether performance under a contract is substantial is decided on a case-by-case basis, examining all of the facts of the particular situation.

A

True

42
Q

Trucking LLC enters into a contract to deliver a certain quantity of potatoes to United Foods’s refrigerated warehouse in exchange for a specified payment. Trucking delivers substantially all of the spuds to the location. United’s duty to pay is

A

absolute

43
Q

Security Company enters into a contract with Tower Apartments to deliver and install an alarm system for a certain price. Both parties perform the acts as promised. The contract is

A

terminated

44
Q

There is no difference between complete and substantial performance.

A

False

45
Q

State University provides housing on campus and in some adjacent off-campus neighborhoods. To lease a university house or apartment, a person must be a student at State. This requirement is

A

a condition.

46
Q

When the subject matter of a contract is personal, the performance need only satisfy a reasonable person.

A

False

47
Q

Most contracts need to be performed to the personal satisfaction of each contracting party.

A

False

48
Q

If a contract condition is not satisfied, the obligations of the parties are not discharged.

A

False

49
Q

Iggy and Jen sign a contract by which Iggy agrees to deliver and install a gas fireplace on October 15 in exchange for Jen’s promise to pay the $500 price within ten days of the install date. The delivery and installation of the fireplace and the payment of the price are examples of

A

concurrent conditions

BLW 302 (9 decks)

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