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Contract and Legal Concepts

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Contract and Legal Concepts
1) Tender of performance is another term for completion of performance.

Answer: FALSE
Diff: 1
Topic: Substantial Performance: Minor Breach

2) Substantial performance constitutes a minor breach of the contract.

Answer: TRUE
Diff: 2
Topic: Substantial Performance: Minor Breach

3) When there is substantial performance of a contract with a minor breach, the other nonbreaching party may sue to recover the cost to repair the defect.

Answer: TRUE
Diff: 1
Topic: Substantial Performance: Minor Breach

4) Specific performance is the most common remedy for a breach of contract.

Answer: FALSE
Diff: 1
Topic: Substantial Performance: Minor Breach

5) A material breach allows the other party to rescind a contract.

Answer: TRUE
Diff: 1
Topic: Inferior Performance: Material Breach

6) A breach of a contract cannot occur until the time for performance of the duty in question.

Answer: FALSE
Diff: 1
Topic: Inferior Performance: Material Breach

7) When one party materially breaches a contract, the other nonbreaching party is discharged from any further performance.

Answer: TRUE
Diff: 1
Topic: Inferior Performance: Material Breach

8) When performance is tendered, this will discharge a party's contractual obligations.

Answer: TRUE
Diff: 2
Topic: Inferior Performance: Material Breach

Answer: FALSE
Diff: 1
Topic: Inferior Performance: Material Breach

10) When there is an anticipatory breach, the nonbreaching party's obligations under the contract are discharged immediately.

Answer: TRUE
Diff: 1
Topic: Anticipatory Breach

11) The primary goal of compensatory damages is to compensate a nonbreaching party for the loss of the bargain.

Answer: TRUE
Diff: 1
Topic: Monetary Damages

12) The UCC governs damages for a breach of a sales contract involving goods.

Answer: TRUE
Diff: 2
Topic: Monetary Damages

13) A buyer can generally recover the additional cost of acquiring substitute goods
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