chp8 Flashcards

1
Q

Legal remedies are also called…?
APrivity
BRescission
CRestitution
DDamages

A

D- damages

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2
Q

When a breach occurs before performance is due as a result of one party’s unequivocal intention not to substantially perform, it is known as…?
AAnticipatory Repudiation
BRestitution
CDamages
DRescission

A

a- anticipatory repudiation

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3
Q

The legally justified cancellation and/or revocation of a contract and the return of the parties back to their original position is known as…?
ARescission
BRemedy
CSpecific Performance
DRestitution

A

rescission

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4
Q

There are two types of rescission, mutual and unilateral…?
AT (True)
BF (False)

A

true

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5
Q

Anticipatory repudiation is also known as…?
APrivity
BAnticipatory breach
CPunitive damages
DAnticipatory restitution

A

b anitcipatory breach

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6
Q

A state law requiring certain contracts to be in writing and signed before they will be enforceable at law is known as…?
ANovation
BPrivity
CStatute of Frauds
DStatute of Limitations

A

c statute of frauds

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7
Q

Which of the following is an example of a defense for non-performance…?
AStatute of limitation
BDischarge of an obligation
CMutual mistake
DAll of the above

A

all of the above

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8
Q

Valid contracts must have which of the following…?
ANovation
BPrivity
CConsideration
DNone of the above

A

consideration

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9
Q

The ability to sue for the enforcement of the contract is known as…?
APrivity
BNovation
CRescission
DEnforceability

A

enforceability

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10
Q

Which of the following contracts must be in writing…?
AThe sale of personal property valued over $500
BAgreement to answer for the debt of another
CTransfer of interest in real property
DAll of the above

A

all of the above

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11
Q

Contracts that cannot be performed within 1 year of acceptance must be in-writing…?
AT (True)
BF (False)

A

true

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12
Q

The statute of limitations for breach of an oral contract in California is…?
A2 years
B3 years
C4 years
D5 years

A

2 year

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13
Q

The statute of limitations for breach of a written contract in California is…?
A2 years
B3 years
C4 years
D5 years

A

4 years

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14
Q

The statute of limitations for adverse possession in California is…?
A2 years
B3 years
C4 years
D5 years

A

5 years

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15
Q

A mutual rescission usually occurs when which of the following happens…?
ABoth parties are ready to perform
BThere is a mistake in the contract
CAn amendment was added to the contract
DAll of the above

A

there is a mistake in the contract

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16
Q

The statute of limitations for trespassing in California is ………. years from the date the trespass is discovered?
A2
B3
C4
D5

A

3

17
Q

The statute of limitations for fraud in California is ……… years from the date the fraud was discovered?
A2
B3
C4
D5

A

3

18
Q

A transfer of benefits and obligations within a contract to a 3rd party who is not originally a party to the contract is known as…?
APrivity
BNovation
CSubstitution
DAssignment

A

assignment

19
Q

One who assigns or transfers property is referred to as a/an…?
ATrustor
BAssignee
CAssignor
DTrustee

A

assignor

20
Q

Those whom property or interests therein shall have been transferred are referred to as…?
AAssignees
BTrustors
CAssignors
DTrustees

A

assignees

21
Q

Mutual relationship to the same rights of property or contractual relationship is known as…?
AJoint venture
BPrivity
CNovation
DAssignment

A

privity

22
Q

The relationship which exists between the persons who are parties to a contract is known as…?
APrivity of Contract
BNovation
CJoint Venture
DPrivity of Estate

A

privity of contract

23
Q

A mutual or successive right or interest in the same real property is known as…?
ANovation
BSubstitution
CJoint Venture
DPrivity of Estate

A

privity of estate

24
Q

the substitution or exchange of a new obligation or contract for an old one by the mutual agreement of the parties is known as…?
ANovation
BRestitution
CRescission
DPrivity

A

novation

25
Q

An equitable proceeding brought by a third party acting in the capacity of a stake holder wherein there are rival claimants to the same money and/or property requesting the court to determine such properties disposition is known as…?
APrivity
BNovation
CInterpleader
DRestitution

A

interpleader

26
Q

The indemnity recoverable by a person who has sustained an injury, either in his or her person, property, or relative rights, through the act or default of another is referred to as…?
ARescission
BRestitution
CRemedy
DDamages

A

damages

27
Q

Damages simply for the purpose of punishment are known as…?
ARescission
BPunitive Damages
CRestitution
DEquitable Remedies

A

punitive damages

28
Q

Remedies for the purpose of ‘fairness and justice’ are referred to as…?
AEquitable Remedies
BPunitive Damages
CRestitution
DRescission

A

eqitable remedies

29
Q

An action to compel performance of an agreement is known as…?
ARescission
BRemedy
CSpecific Performance
DRestitution

A

specific performance

30
Q

The sale of land as an alternative to damages or rescission is an example of…?
ASpecific Performance
BRestitution
CAnticipatory Repudiation
DPrivity

A

specific performance

31
Q

Legal remedies are also called…?
APrivity
BRescission
CRestitution
DDamages

A

damages

32
Q

When a breach occurs before performance is due as a result of one party’s unequivocal intention not to substantially perform, it is known as…?
AAnticipatory Repudiation
BRestitution
CDamages
DRescission

A

anticipatory repudiation