Chapter 18&19 Flashcards Preview

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Flashcards in Chapter 18&19 Deck (49):
1

An offer to perform is a

Tender

2

Tender excludes

Mere expression of willingness to pay

3

Payments of debt by a check are not

None of the above

4

The substantial performance rule is irrelevant

To construction contracts (MIGHT GO BACK TO THIS ONE)

5

Modern federal law gives a consumer a right to rescind home-solicited sales contracts within a matter of

Days

6

Ordinarily application of payments

May be specified by debtor

7

Affecting both future and past of a contract is

Termination by Recession or NONE OF THE ABOVE (come back to this)

8

Agreement to a different performance of a contractual obligation, which different performance is executed, is

Accord and satisfaction

9

Contracts can sometimes be discharged by

ALL OF THE ABOVE

10

Discharge by operation of law includes

ALL OF THE ABOVE

11

Alteration of a written contract means discharge by operation of law if

The alteration is made by a party to the contract

12

A rescinding party must

Restore the other to the other's original position

13

A morals clause exemplifies

Condition

14

Refusal of tender

Discharges party offering to perform and is basis for a lawsuit

BOTH A AND B ARE CORRECT

15

Expiration of time for performance specified in contract can mean

Breach

16

This clause contracts around impossibility doctrine

Force majeure

17

Discharge by impossibility keys to

Unexpected intervening act

18

Essentially a private statue of limitations is this clause

Contractual limitation

19

If a party declares before performance time he will not perform, the other party may do all but

Regard this conflict as a conflict of law

20

Contract damages must have been foreseeable to defendant if

Consequential

21

Exemplary damages also are called

Punitive

22

Liquidated damages are

Identified in the contract itself

23

A penalty is void if unreasonably large and not proper

liquidated damages

24

An injured party who rescinds after having paid money on the contract may recover money paid on a theory of

quasicontract

25

The discretionary judicial grant of specific performance will NOT be refused because

The contract is one of adhesion (COME BACK TO THIS ONE)

26

Judgment of a small sum, such as one dollar, is probably

Nominal damages

27

If there has been waiver of a contractual breach, the waiving party can

None of the above

28

Reservation of right is most relevant given

Accepting a tendered defective performance

29

Losses not necessarily following breach, but doing so in a particular case, are

Consequential

30

Failure to act as contractually required is

Breach

31

Deterring ordering the specific performance of personal services

13th Amendment

32

Damages are measured as reasonable value in

quasicontract

33

Special damages are

Consequential

34

Party injured by contractual breach must

Mitigate damages

35

Material breach of contract keys to

Injunctions (?)

36

Specific performance is

Equitable remedy

37

Order to former employee to stop competing is

Injunction

38

Written contract incorrectly stating agreement suggests

Reformation

39

Each party ordinarily pays own attorney fees under

American Rule

40

Exulpatory clause completely .. gross neglience

Unenforcebale?

41

TRUE OR FALSE
Frustration of purpose doctrine ties to change circumstances

TRUE

42

TRUE OR FALSE
Commercial impractibility doctrine ties to nonoccurence of basic contractual assumption

TRUE

43

TRUE OR FALSE
Acts of God ordinarily will terminate a contract

FALSE

44

TRUE OR FALSE
Contracts nowadays commonly include a Weather Clause

TRUE

45

TRUE OR FALSE
Discharge by impossibility is judged subjectively

TRUE(?)

46

TRUE OR FALSE
Anticipatory repudiation can never be expressed by conduct

FALSE

47

TRUE OR FALSE
Anticipatory breach is impossible under American Law

FALSE

48

TRUE OR FALSE
Ordinary monetary damages gives the injured party "the benefit of the bargain"

TRUE

49

TRUE OR FALSE
Given valid liquidated...

IDK