Contract: Performance

Question 1

A residential lease

Answer 1

is not required to be in writing but if it is in writing just a description of the property is needed

Question 2

Common law on residential leases assume

Answer 2

that rent is due at the end of the month

Question 3

The Statue of frauds only applies to contracts for

Answer 3

sale of goods
a transfer of interest in land
promises to pay for the debts of another
or contracts that cannot be performed within one year

Question 4

In the case of Substantial performance

Answer 4

remedy is limited to the damages caused by the reduced performance

Question 5

Both accord and satisfaction and mutual rescission

Answer 5

will discharge a party’s obligation to perform under the original contract when no party has performed

Question 6

Contracts are generally assignable. What are the Nonassignable contracts?

Answer 6

personal service
personal satisfaction of one of the parties
contracts that state that the contract is not assignable
contracts that would treat the nonassigning party unfairly