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WorksheetsBusiness Law Ch6
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Ending a contract by mutual release is not allowed by law
a)
true
b)
false
2.
You have the right to sue a person who breaches a contract made with you
a)
true
b)
false
3.
When a bilateral mistake is made, neither party may void the contract
a)
true
b)
false
4.
The court will not rule on when a contract must be completed if time for performance is unspecified
a)
true
b)
false
5.
The destruction of the subject matter needed to perform the contract, through no fault of either party, discharges that contract
a)
true
b)
false
6.
A legal means for enforcing a right or correcting a wrong is called a remedy
a)
true
b)
false
7.
The doctrine of substantial performance is often applied to contstruction contracts
a)
true
b)
false
8.
A person may win a lawsuit for fraud even if no loss is suffered
a)
true
b)
false
9.
When you win a lawsuit and collect thousands of dollars beyond what you actually lost, you have received bilateral damages
a)
true
b)
false
10.
Specific performance asks the court to order the other party in a contract to
a)
pay the contract in full
b)
stop doing what the contract says
c)
obey all injunctions immediately
d)
do what he or she has agreed to do
11.
Threats of a business nature that cuase a person to enter into a contract without real consent would qualify as
a)
undue influence
b)
economic duress
c)
duress
d)
fraud
12.
Which of the following is not a remedy for breach of contract
a)
you may request the contract be continued
b)
you may accept the breach
c)
you may sue for damages
d)
you may ask the court for a remedy
13.
An offer to do what you have agreed to do under a contract is called
a)
substantial performance
b)
tender of performance
c)
accord and satisfaction
d)
satisfaction of performance
14.
Mutual mistake is also known as
a)
unilateral mistake
b)
bilateral mistake
c)
material mistake
d)
intentional mistake
15.
Wrongful acts of one of the parties may discharge a contract by
a)
the Wrongful Act Statute
b)
operation of law
c)
the statute of limitations
d)
mutual release
16.
The legal transfer of a right under contract is called a(an)
a)
alteration
b)
novation
c)
assignment
d)
delegation
17.
When a contract ends it is said to be
a)
discharged
b)
tendered
c)
released
d)
avoided
18.
If what seems to be a valid contract turns out not to be, the contract is
a)
fraudulant
b)
defective
c)
deceptive
d)
mistaken
19.
A unilateral mistake is an error on the part of one of the parties to a contract
a)
true
b)
false
20.
A person who intentionally fails to reveal an important fact is commiting the fraud of
a)
deception
b)
concealment
c)
embezzlement
d)
treason
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