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BUS 111 t/f # 2
jac10

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the assignment of the same contract right to two different parties results in their "splitting the difference".


False


to be enforceable, a delegation of duties must be in writing


False


Alienation is a transfer of contract rights between citizens of different nations


False


a delegation relieves the party making it of the obligation to perform even if the party to whom the duty is delegaed fails to perform


False


an intended beneficiary is entitled to enforce the promise of a promisor


true


acreditor beneficiary has the power to sue the promisee if the contract is breached


True


The rights of a third party beneficiary under a contract are subject to any express reservation of rights in the contract to the orifinal parties


True


an incidental beneficiaty is not entitled to enforce the promise of a promisor


true


If a contract benefits a third party incidentally, the third party has the power to enforce the contract.


False


the most common way to discharge a contrac is by breach


False


If a contract condition is not stisfied, the obligations of the contracting parties are discharged


True


a promise to perform under a contract may be absolute


True


A condidtion pprecedent must be met before a party's performance can be required


True


conditions subsequent are more common than conditions precedent


False


A buyers duty to pay becomes absolute once a contract is formed


False


a partys normally satisfies its duties under a contract by novation


False


complete performance occurs when conditions in a contract are fully satisfied


True


Performance that provides a party with most of the benefits of a contract, in spite of deviation from the terms, is substantial performance


True


an intentional variation from a contract prevents substantial performance


false


if a contract requires performance to the personal stisfaction of a party, the party to be stisfied must act honestly and in good faith


True


anything less than complete performance is a material breach


false


any breach allows the nonbreaching party to cancel the contract


False


to rescind a contract, the parties must make a second agreement that includes consideration


True


A novation revokes and dischates a prior contract


true


If a party breaches a contract, the other party can only refuse to perform


False


Damages compensate a party for harm suffered as a result of another's wrongful act


True


The injury suffered by a nonbreaching party due to the breach of contract may be remedied by payment of compensatory damges


True


expenses that are cuased directly by breach of contract such as those incurred to obtain performance from another source are incidental damages


true


In a contract for a sale of goods, the usual measure of compensatory damages is the difference between the contract price and the market price


true


The measure of damages for the breach of a contract for a sale of land depends on which party breaches and when


False


In a contract for sale of land, the usual remedy is specific performance


True


Consequential damages are foreseeable damages that arise from a party's breach of a contract


True


Damages are awarded for whatever injury a nonbreaching party suffers, whether or not the breaching party could have foreseen the injury


False


Normally, when a nonbreaching party has been damaged by a breach of contract, he or she has a duty to mitigate those damages.


True


Liquidated damage clauses typically require a party who breaches a contract to pay a certain amount to the nonbreaching party


True


Restitution involves one party's recapture of a benefit through which another party has been unjustly enriched


True


Reformation allows a court to rewrite a contract to reflect the parties true intentions


True


A party seeking to recover in quasi contract must show that he or she has been unjustly enriched


False


A party who knowningly accepts defective performance of a contract thereby acknowledges he breach and can take laer action on it


FAlse


Under the UCC, a sale of goods will be considered valid only if the goods are paid for with money


False


A copyright is an exanple of property that does not come under article 2


True


The UCC governs sales of services


false


If a seller is to remove a structure attached to land, the sale of the structure is treated as one involving goods


True


The UCC does not impose different standards on merchants than it imposes on consumers


False


Article 2A of the UCC covers subleases of goods


True


A consumer lease is excepted from coverage under the UCC


False


A lessee is a party who transfers a right to the possession and use of goods under a lease


False


Under the UCC, the calidity of contract depends on its price term.


False


If a contract for a sale of goods doesn not include the delivery date, ther is no basis for enforcing it


False


Under the UCC, a contract for sale of goods that does not include the quantity is a requirements contract


False


The rules governing firm offers apply to certain merchants only


False


If a sales contract is unilateral, the offeror need not be notified of the offeree's performance


False


Under the UCC, an agreement modifying a contract needs new consideration to be binding


False


All oral contracts are enforceable under the UCC


False


two parties prior dealing may be considered to resolve an ambiguity in a contract between them.


True


An unconscionable contract is a contract so onesided and unfair at the time it is made that enforcing it would be unreasobable


True


A contract between parties residing in different countries is subject to article 2A of the UCC


False