Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Contracts may be discharged because of certain circumstances, conditions, causes, etc. Please match the following ways for discharging contracts. Destruction of subject matter [ Choose

Contracts may be discharged because of certain circumstances, conditions, causes, etc. Please match the following ways for discharging contracts.

Destruction of subject matter

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Frustration of purpose

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Bankruptcy

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Substitution

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Illness of either party to render personal services

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Accord and satisfaction

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Statute of limitations

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Release

[ Choose ] Discharge by impossibility Discharge by agreement Discharge by economic disappointment Discharge by operation of law

Terms of the contract

Sheldon saw some cool technology that he wanted to purchase, however, he was short of cash. Lenny knew how much Sheldon really wanted it, and offers to loan Sheldon the money. Sheldon borrows $4,000 from him and agrees to repay the money in six months. Later, Lenny purchased a car from Penny for $7,000. He pays her $3,000 in cash and assigns the right to the $4,000 to her. Penny contacts Sheldon towards the end of the six months, requesting payment. Sheldon claims that he doesn't owe her the money because he never agreed to pay her and that there was never any intent to benefit her when he and Lenny made the contract.

Penny will not be able to recover _________ in the breach of contract action.

compensatory damages
punitive damages
general damages
direct damages

Sheldon saw some cool technology that he wanted to purchase, however, he was short of cash. Lenny knew how much Sheldon really wanted it, and offers to loan Sheldon the money. Sheldon borrows $4,000 from him and agrees to repay the money in six months. Later, Lenny purchased a car from Penny for $7,000. He pays her $3,000 in cash and assigns the right to the $4,000 to her. Penny contacts Sheldon towards the end of the six months, requesting payment. Sheldon claims that he doesn't owe her the money because he never agreed to pay her and that there was never any intent to benefit her when he and Lenny made the contract.

Penny will not be able to recover _________ in the breach of contract action.

compensatory damages
punitive damages
general damages
direct damages

PreviousNext

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions