Chapter 18 Flashcards by Matthew Scopes

Q

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

A

True

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Q

There is no difference between complete and substantial performance.

A

False

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Q

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

A

True

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Q

Eric enters into a contract to buy Foley’s cultivated farmland if AgriCredit Bank will lend Eric the funds to pay for the land. Eric’s duty to perform is:

A

Conditional

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Q

Jerry and Keri enter into a contract for Jerry to renovate Keri’s house by a certain date. Jerry never performs. After the applicable statute of limitations period has passed, Keri decides to bring a suit against Jerry for breach. This suit:

A

Can no longer be brought

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