Business Law - Chapter 13

Contractual rights may be transferred to another person by assignment; contractual duties may be transferred to another person by delegation.

• True

• False

Performance is the fulfillment of contractual promises as agreed.

• True

• False

A person cannot delegate to another any duty where performance requires unique personal skill or special qualifications.

• True

• False

If the obligor breaches, the assignor must sue for breach of contract.

• True

• False

Only by the complete performance of the terms of a contract can a contract be discharged.

• True

• False

A compromise of a disputed claim or a composition of creditors is an accord.

• True

• False

A contract may be discharged because the statute of limitations has expired.

• True

• False

Tender is an offer to perform an obligation.

• True

• False

If a new statute, a court ruling, or an administrative decision causes a legal contract to now become illegal, it is still binding because it was created legal.

• True

• False

A tender of only part of the debt is not a valid tender.

• True

• False