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WorksheetsLaw Chapter 6: How Contracts Come to an End (Quiz Review)
Total questions: 20
Worksheet time: 3600secs
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
The courts will allow a discharge for impossibility of performance when:
substantial performance has occurred in good faith.
a tender of performance occurs.
death or illness prevents the performance of the contract.
there is a mutual agreement by all parties involved.
When a contract ends, it is said to be:
discharged
released
tendered
avoided
The remedy of specific performance can only be used when:
actual damages are greater than incidental damages.
there is a mitigation of damages.
a party is prevented from performing an act of some sort.
money damages are not sufficient to give relief.
Which of the following is NOT a remedy for breach of contract?
you may request the contract be continued
you may accept the breach
you may sue for damages
you may ask the court for a remedy
The transfer of a right under a contract is called a(n):
privity of contract.
assignment.
novation.
delegation.
When both parties have fulfilled the terms of a contract, _____________ has taken place.
concealment
performance
unilateral
bilateral
A third-party beneficiary:
is a party to the contract and benefits from it.
is not a party to the contract, but benefits from it.
does not have standing to bring suit within the terms of the contract.
can also be called a novation.
If the time for performance is not mentioned in a contract, the court will say the contract must be completed in a time that is suitable and fair, or in ______________________.
a reasonable time
a month's time
a year's time
an agreed to amount of time
The act of destroying someone's free will by force, threat of force, or bodily harm is called:
libel.
slander.
duress.
undue influence.
A person who intentionally fails to reveal an important fact is committing the fraud of ________________________.
misrepresentation
lying
concealment
none of the above
