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Chapter 18 Questions and Answers graded A+
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Chapter 18 Questions and Answers graded A+ M & E contracted to sell 500 music stands to Coda, Inc. M & E shipped the stands in accordance with the agreement. Coda paid for the stands as promised. The contract between M & E and Coda is discharged by a. agreement. b. rescission. c. full performan...

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  • July 19, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • chapter 18 questions and answers graded a
  • m e contracted to sell 500 music stands to coda
  • the legal right to sue for a breach of contract is
  • in which case would true impossibility not apply

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Chapter 18 Questions and Answers graded A+
M & E contracted to sell 500 music stands to Coda, Inc. M & E shipped the stands in accordance with the agreement. Coda paid for the stands as promised. The contract between M & E and Coda is discharged by
a. agreement.
b. rescission.
c. full performance.
d. accord and satisfaction - answer C
The legal right to sue for a breach of contract is subject to a statute of limitations.
true or false - answer true
In which case would true impossibility NOT apply?
a. Nelson contracted with a local restaurant to supply 10,000 pounds of potatoes, but a tornado tore through his field, completely destroying it.
b. A record company contracted with Darlene to produce a CD of traditional folk ballads;
unfortunately, Darlene died before recording began.
c. Reed agrees to purchase an expensive piece of jewelry for $25,000; a week later, he tells the jeweler that he simply does not have that kind of money. - answer C
An employment contract is an example of a personal satisfaction contract.
true or false - answer true
Ron operates a garbage pickup business. He contracts to pick up garbage from an apartment complex for the next 52 weeks at a price of $150 per week. Unexpectedly, the landfill center where Ron takes the garbage to dispose of it, files for bankruptcy. As a result, Ron must travel an additional 100 miles to the nearest landfill center, turning Ron's expected profit into a loss of $40 per week. Ron's best argument in support of his petition to be discharged from the contract is
a. true impossibility.
b. frustration of purpose.
c. the mail box rule.
d. commercial impracticability. - answer d
Jackie hires Charles to lay new carpet in her bedroom. Charles does such a bad job, that the only way to fix the carpet is to start over and relay the carpet. Which of the following best describes this situation?
a. This is substantial performance. Jackie owes nothing to Charles.
b. This is substantial performance. Jackie must still pay something to Charles.
c. This is a material breach. Jackie owes nothing to Charles.
d. This is a material breach. Jackie must still pay something to Charles. - answer c Which of the following events would have the best chance of excusing performance of a
contract based on commercial impracticability?
a. An unforeseeable trade embargo causes prices to triple.
b. The promisor of personal services dies.
c. The price of a raw material increases slightly so that the contract will not be as profitable.
d. The subject matter of the contract is destroyed. - answer a
When one party breaches a contract, the discharged party
a. has no obligation to perform.
b. may sue the breaching party for damages.
c. has no obligation to perform, and may sue the breaching party for damages.
d. None of these are correct - answer c
Abdulla hired Granite Construction to build an addition onto his home. Granite Construction dug the foundation but then abandoned the project. Granite Construction is entitled to receive the full contract price minus the value of the defects.
true or false - answer false
Most contracts are discharged by mutual agreement of the parties.
true or false - answer false
Which of the following events would have the best chance of excusing performance of a
contract based on commercial impracticability?
a. The price of a raw material increases slightly so that the contract will not be as profitable.
b. The subject matter of the contract is destroyed.
c. An unforeseeable trade embargo causes prices to triple.
d. The promisor of personal services dies. - answer c
What is the key to all conditional clauses?
a. If a condition in a contract does not occur, public policy will require only substantial performance by the party for whom the condition failed.
b. If a condition in a contract does not occur, one party will probably be discharged without having to perform his or her obligations under the contract.
c. If a contract contains a conditional clause, the requirement of good faith will be eliminated.
d. If a contract contains a conditional clause, it must be expressly written with specific language. - answer b
Sea Rovers, Inc. contracted to sell 1,000 pounds of shrimp to the Seafood Shack with delivery on June 1. On May 1, Sea Rovers advised the Seafood Shack that it would not be able to deliver the shrimp. The Seafood Shack
a. must wait until June 1 to see if Sea Rovers will perform before suing for breach of contract.

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