1When both parties fully perform the contract is

adischarged

bexecutory

cbreached

dnone of the above

2A contract can be

abreached

bfully performed

csubstantially performed

dall of the above

3A material breach of contract

aexcuses the non-breaching party's performance

bgives the non-breaching party a cause of action for breach against the breaching party

cboth a and b

dnone of the above

4Tender of performance

aavoids breach of contract

bsatisfies the tendering party's duties under the contract

cif accepted requires actual performance

dall of the above

5A homeowner hires a plumber over the phone ($60 for the visit plus materials and labor to fix the problem).The plumber shows up but the homeowner won't let him in.This is an example of

aaccord and satisfaction

bimpossibility of performance

cimpracticability

dprevention

6Where parties mutually agree to end an existing contract with one party paying an amount to the other is an example of

aa waiver

ba liquidation

can accord and satisfaction

dnone of the above

7Where one party walks away from a contract to be substituted by someone else is an example of

arelease

bnovation

cwaiver

dprevention

8If a supplier under a contract loses his source of supply because of a hurricane or pandemic his performance is excused under the doctrine ofimpossibility of performance. T OR F.

9.If a driller has a contract for wells and it turns out it will cost ten times as much as both parties believed his performance can be excused based on the doctrine of prevention. T OR F

10.For grounds to exist to excuse a performance and terminate a contract the parties must agree the grounds are sufficient.If they don't agree, a court can resolve the dispute. T OR F

11.Equitable remedies are ordered by juries. T OR F

12.An equitable remedy to correct an error in a deed can be reformation. T OR F

13.A court order to halt construction would be in the form of an injunction. T OR F

14.Specific performance is a remedy that can be employed in a dispute over the purchase and sale of real property. T OR F

15.Breach of contract can beanticipatory, material or minor (immaterial). T OR F

16.Notice of an anticipatory breach invites the non-breaching party to ask for adequate assurances that the other party will perform.In the absence of adequate assurances the non-breaching party can treat the contract as breached. T OR F

17.If a party makes a contract for repair and return of a mechanical part that the party needs on a date certain to avoid further loss and the other party agrees to it but fails to deliver the part on time the non-breaching party would be entitled to compensatory damages and consequential damages. T OR F

18.Employmentcontracts are generally at-will. T OR F

19.Liquidated damages provisions in contracts fix the amount of potential recovery in the event the contract is breached. T OR F

20.The legal remedy is monetary damages. T OR F

T IS TRUE

F IS FALSE