S25TH - Contracts - Discharge and Damages

True or False. Most contracts end when they are breached by one of the parties.

• True
• False

True or False. A "material breach" is when the parties don’t perform everything that they agreed to in the contract, but did substantially perform what they agreed to do under the contract.

• True
• False

True or False. Where one party substantially performs their contract obligations, the other party will be required to perform their duties under the contract, but with adjustments to compensate them for the failure to fully perform the contract.

• True
• False

True or False. If one party to the contract commits a material breach, the other party has no obligation to perform the contract - their obligations are discharged by the other party’s breach.

• True
• False

True or False. If one of the parties makes it clear that they will not perform the contract, the other party can declare the contract breached, and stop performing their obligations under the contract.

• True
• False

Article 2 of the UCC applies to:

• Sales
• Leases
• Goods
• Real property

Promises by the seller of goods can create:

• express warranties
• implied warranties
• either of these
• neither of these

Descriptions of the goods that are made by the seller of goods can create:

• express warranties
• implied warranties
• either of these
• neither of these

In a sale of goods, whether there is an _____, depends on what a reasonable buyer would think is important.

• express warranty
• implied warranty
• either of these
• neither of these

In a sale of goods, "fitness for a particular purpose" is an _____.

• express warranty
• implied warranty
• either of these
• neither of these