1 . Which of the following is NOT a way in which a contract comes to an end?

A. One of the parties has failed to perform a fundamental term of the contract.

B. The parties have performed all of their obligations under the contract.

C. One of the parties wishes to negotiate a better deal.

D. The two parties agree, in advance of the contractual expiry date.

2 . The most common means of discharging a contract is when

A. The parties fulfill all their obligations.

B. A court orders that neither party has to complete their obligations.

C. The parties waive their rights.

D. A reasonable time has expired since the contract started.

3 . When the parties meet all their obligations under the terms of a contract, this is referred to as

A. A condition precedent.

B. Discharge by performance.

C. Discharge by operation of law.

D. A condition subsequent.

4 . Which of the following terms means that no part of the price is payable unless all of the work is done?

A. Substantial performance.

B. Time is of the essence.

C. Option to terminate.

D. Entire contract.

5 . What is the legal standard, in most circumstances, for performance of contractual duties?

A. Substantial completion within a reasonable time.

B. Full completion within a reasonable time.

C. Full completion before the contractual deadline.

D. Substantial completion before the contractual deadline.

6 . What contractual term is used to denote a situation where a contract is formed immediately, but does not have to be performed until a certain event occurs?

A. Entire contract.

B. Condition subsequent.

C. Condition precedent.

D. True condition precedent.

7 . When you are released from a contractual obligation, it is good risk management for you to

A. Have the releasor sign a release under seal.

B. Have the releasor verbally agree not to sue you.

C. Recommend someone to the releasor to finish the work you couldn't do.

D. Seek a new contract to replace the one you could not complete.

8 . When the parties to a contract agree to alter minor terms in an existing contract, this is referred to as

A. A breach of contract.

B. A novation.

C. A condition subsequent.

D. A variation.

9 . All of the following, except one, are features of contractual novation. Which one is NOT a feature of novation?

A. Changes can be achieved expressly or by implication.

B. Small changes are introduced to an existing contract.

C. Discharge of the old contract is supported by consideration.

D. All of the affected parties consent to the new arrangement.

10 . Which of the following statements about a waiver of contractual obligations is FALSE?

A. Waiver is irrevocable.

B. Waiver can be implied.

C. Waiver can be in writing.

D. Waiver can be created orally.

11 . There is a statutory deadline for filing a lawsuit for breach of contract. A lawsuit filed after the deadline may give the defendant a defence based on

A. Termination of the contract.

B. Waiver.

C. Expiry of the limitation period.

D. Contributory negligence

12 . A federal statute that has the legal effect of discharging contractual obligations is

A. Criminal Code.

B. Bankruptcy and Insolvency Act.

C. Canada Contracts Act.

D. Contract Limitation Period Act.

13 . The parties may be relieved from their contractual obligations when circumstances change so drastically that performance is no longer reasonably possible. This situation is referred to as termination by

A. Frustration.

B. Operation of law.

C. Force majeure.

D. Mistake.

14 . Which of the following conditions is LEAST likely to allow a party or parties to be discharged from performing any remaining obligations under a contract as a matter of law?

A. Variation.

B. Frustration of the contract.

C. Rescission.

D. Bankruptcy.

15 . If a lawyer is arguing before the court that his client would be substantially deprived of the expected benefit of the contract because a breach of a contractual term has occurred, then the lawyer is attempting to convince the court that the term is a

A. Warranty.

B. Condition precedent.

C. Intermediate term.

D. Condition.

16 . The most common kind of breach of contract is

A. Anticipatory breach.

B. Self-induced impossibility.

C. Defective performance.

D. Negotiating for better terms.

17 . Which of the following is a category of breach that typically relates to contracts for the carriage of goods by land or sea?

A. Anticipatory breach.

B. Self-induced impossibility.

C. Defective performance.

D. Deviation.