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Exam 18: Performance and Dischapterarge

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Question 21

Multiple Choice

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Hilton enters into a contract to erect a fence around Irene's cattle pasture. When the fence is built, Hilton's performance will be

A) conditional.
B) complete.
C) material.
D) substantial.

E) B) and D)
F) A) and C)

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Question 22

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

A) True
B) False

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Question 23

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The most common way to terminate contractual duties is by

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

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

Architect LLC enters into a contract with Barn & Silo Inc. to provide designs for a certain number of farm buildings. Architect provides fewer than half of the designs by the time specified in the contract because the firm is busy with other projects. Architect's performance is most likely

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

Adrian operates a recycled metals business and contracts to provide ten tons of scrap steel at $500 per ton to be delivered to Build-It-Rite Materials Inc. in seven months. An unforeseen shortage of scrap steel suddenly develops, making it impossible for Adrian to fulfill the contract for less than $5,000 per ton. Adrian's best defense against performing the contract would be that

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

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

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

Inez hires Josh to paint her portrait to her satisfaction for $4,000. When Josh finishes the portrait, Inez announces that she is not satisfied with it. Inez

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

A novation requires

Rene contracts with Scot to pay him $5,000 for repairs to Rene's lake cabin. After Scot performs, Rene tells him that she cannot pay him in full immediately. They sign an agreement in which Rene promises to pay $2,500 now instead of $5,000 later. This is

Any breach of contract effectively excuses both parties from performing.

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

Lana agrees to work as Michelle's personal assistant for one year but dies in the ninth month of the contract. Lana's death

Dairy Farm enters into a contract with EZ Ice Cream Inc. to supply milk. Later, Dairy decides that it is no longer advantageous to fulfill the contract and subsequently fails to perform as promised. EZ files a suit against Dairy. A breach occurred when Dairy

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