Contracts Unit 7 Question Preview (ID: 1096)

Chaps, 10,11,12.

A party's deviance from the performance required by the contract is a ...
a) fiduciary relationship
b) breach
c) substantial compliance
d) compensatory performance

A repudiation is anticipatory if...
a) a certain repudiation of the contract before the time for performance
b) an uncertain repudiation of the contract before the time for performance
c) an uncertain material term found before the case goes to court
d) a breach made after performance has started but before litigation

When considering extent of a breach, the five considerations are...
a) Immediate right to start a lawsuit, severability, cancellation, certainty, and the weather
b) Non-retraction, transfer, business practices, delegation, and malum in se acts
c) Prenuptial agreements, antenuptial agreements, misrepresentation, fraud, and duress
d) Deprivation of expected benefit, adequacy of compensation, forfeiture, ability to cure, good faith

What quality may allow a breach to affect only part of a contract, rather than the entire agreement?
a) Severability
b) Intentionality
c) Material breach
d) Expected benefit

A request to renegotiate a contract...
a) voids the contract
b) is an anticipatory repudiation
c) is not by itself a repudiation
d) is a breach

Performance may be excused where there is
a) Impracticality, impossibility, or frustration of purpose
b) Never; the freedom to contract controls
c) on Tuesdays
d) Only in cases of supervening illegality

Death or incapacity, destruction of subject matter, and supervening illegality are examples of conditions which...
a) Show bad faith.
b) Form a fiduciary relationship
c) May excuse the parties on the basis of impossibility
d) Require a writing

Bankruptcy ...
a) Provides no clear rule for determining contract validity
b) Always results in forfeiture
c) Is an anticiaptory repudiation
d) Has no effect on contracts

In additon to impractical performance, impossibilty, and frustrated purpose, parties may be excused when
a) Performance is prevented or bankruptcy is involved
b) There is full performance
c) The parties marry
d) The subject matter increases in value

Insolvency is
a) A violation of the Statute of Frauds.
b) Forfeiture.
c) An inability to pay debts. Insolvency may result in bankruptcy.
d) An automatic breach.

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