What type of contract involves obligations that are yet to be performed by one or both parties?

Contract Damages likely IA

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Executed contract
Executory contract
Unilateral contract
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "breach of contract" mean?
When, with or without excuse, a party fails to perform their obligation
When without lawful excuse a party fails or refuses to perform what's due from them under a contract
Without lawful excuse not performing a contractual obligation, when it is due
Failure to perform contractual obligation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limitations on claiming damages for breach of contract do not include:
Causation
Remoteness of damage
Mitigation of damage
Fairness of damage
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Damages for breach of contract can be claimed when the innocent party has suffered:
More distress
Mere inconvenience
No loss
All of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common law remedy for termination of a contract?
Injunction
Termination of the contract
Damages
None of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens in the case of a breach of contract?
Automatically terminates performance of the contract
Automatically terminates the contract itself
Gives the innocent party the right to terminate the contract
Gives the innocent party the right to claim damages
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Upon a breach of contract, what does mitigation of loss require the innocent party to do?
Prevent the loss
Care for the breach
Communicate loss to the breaching party
Minimize the loss or take steps to prevent further loss
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