Law Chapter 6: How Contracts Come to an End (Quiz Review)

A tender is:

• a debt that is excused when the debtor dies.

• a required amount of money stated in the contract.

• the ability to bring suit against a party who did not fulfill the terms of the contract.

• an offer to do what you have agreed to do in the contract.

Threats of a business nature that cause a person to enter into a contract without real consent would qualify as:

• undue influence

• duress

• economic duress

• fraud

A law that specified in what time a legal action can be brought on a contract is called the:

• time statute.

• Statute of Frauds.

• statute of limitations.

• law of performance statute.

The legal transfer of a right under contract is called a(n):

• alteration

• assignment

• novation

• delegation

If time for performance is not stated in the contract, the court will say that the actions associated with the contract must be completed:

• in a time agreeable by the court.

• within a reasonable time.

• within six months.

• within a year.

An offer to do what you have agreed to do under a contract is called:

• substantial performance

• accord and satisfaction

• tender of performance

• satisfactory performance

When a breach of contract occurs:

• one person is injured.

• the statute of limitations is void.

• a transfer of rights under contract occurs.

• a transfer of duty under contract occurs.

Wrongful acts of one of the parties may discharge a contract by:

• the Wrongful Act Statute

• the statute of limitations

• operation of law

• mutual release

One example of a debt that cannot be discharged under bankruptcy law is a(n):

• educational loan.

• hospital bill.

• car loan.

• home mortgage loan.

Specific performance asks the court to order the other party in a contract to:

• pay the contract in full

• obey all injunctions immediately

• stop doing what the contract says

• do what he or she has agreed to do