TIE One of the requirements for Frustration of Purpose is that both parties were aware at the time that the contract was formed that one of the parties had a particular purpose for entering into the contract. 39. T/F Atender of performance occurs when the tendering party is ready, willing and able to perform and makes an unconditional offer to perform the contract duties 40. T/F Anovation occurs when a new party replaces one of the original contract parties as the result of an agreement between all 3 parties. 41. T/F A breach of contract of a UCC contract occurs when one of the parties violates the Perfect Tender Rule. 42. T/F The following is an example of a condition precedent: A enters into a written contract to sell goods to B. The contract provides, under the heading "Conditions of Sale," that "the obligations of the parties are conditional on B obtaining a letter of credit from X Bank by December 21". 43. T/F Unforeseeability is a necessary requirement for both Impossibility and Frustration of Purpose. 44. T/F As soon as one party to a contract makes an unequivocal statement that amounts to an anticipatory repudiation, the other party may initiate a lawsuit for breach of the contract even though the repudiating party's performance is not due until sometime in the future. 45. T/F Every material breach of a common law contract has the same two consequences the non-breaching party is entitled to damages or other remedies and the breaching party has no right to receive performance from the non-breaching party