41.Refusing to pay all that is owed to a struggling company and getting the company to accept half of what is owed so it can pay its bills and stay in business is an example of economic duress.If the company takes the half payment and later sues for the rest the company will win in court because economic duress precludes meeting of the minds.

Group of answer choices

True

False

42.Exaggerating the benefits of a product is not usually fraud but puffery.

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True

False

43.Courts focus on the four corners of a written contract in interpreting it.The four corners contain the intrinsic evidence of the contract.Extrinsic evidence outside the four corners of prior or contemporaneous agreements at the time of contracting is subject to the parol evidence rule.The parol evidence rule allows for oral evidence not inconsistent with the intrinsic evidence that explains an issue regarding the contract or shows a condition precedent that was not satisfied or shows fraud or mistake in the formation of the contract.

Group of answer choices

True

False

44.An integration clause in a contract stating that the writing is the entire contract between the parties generally precludes the court from considering extrinsic evidence of the contract.

Group of answer choices

True

False

45.If a contract is clear and unambiguous the court will interpret it according to its plain meaning.If there is conflicting language in the contract the court will apply certain rules in an effort to resolve any repugnancies or ambiguities.

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True

False

46.If conflicts arise in a contract between handwritten, typewritten and printed language the court will ignore the handwritten and typewritten language and go with the printed language.

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True

False

47.An incidental beneficiary has rights in a contract but an intended beneficiary does not.

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True

False

48.Once a party materially breaches a contract the other party is excused from any counter-performance.

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True

False

49.There are three kinds of breaches: anticipatory, material and immaterial (minor).

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True

False

50.The duty to perform under a contract is satisfied by full performance.

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True

False

51.Contract damages can be compensatory, consequential and nominal but not punitive.

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True

False

52.Compensatory damages make the plaintiff whole.

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True

False

53.Consequential damages are allowed where both parties acknowledged in advance that breach would lead to additional damages.

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True

False

54.A contract for the sale of goods is subject to the UCC.

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True

False

55.Acceptance of an offer under the UCC does not have to be mirror-image.

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True

False

56.A judge, but not a jury, can fashion equitable remedies (rescission, restitution, reformation, injunction, and specific performance).

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True

False

57.Respondeat superioris tantamount to vicarious liability meaning the principal is liable for the wrongful acts of its agents made in the course and scope of the agency.Other terms describing the agency relationship are master-servant and employer-employee.

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True

False

58.Consideration is not just the dollar amount identified in a contract but the promises and/or acts made in exchange by the parties.

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True

False

59.If a contract does not state a specific method for acceptance an acceptance made by any means (text, email, fax, phone call, letter) is effective to form the contract.

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True

False

60.Exemplary damages are also called punitive damages.They will be awarded to plaintiff against defendant in an intentional tort action where the defendant acted fraudulently, maliciously, or oppressively.

Group of answer choices

True

False