Business and Personal Law

Chapter 6: How Contracts Come to an End

Online Practice Tests

1
A tender is
A)a debt that is excused when the debtor dies
B)a required amount of money stated in the contract.
C)the ability to bring suit against a party who did not fulfill the terms of the contract.
D)an offer to do what you have agreed to do in the contract.
2
A law that specified in what time a legal action can be brought on a contract is called the
A)time statute.
B)Statute of Frauds.
C)statute of limitations.
D)law of performance statute.
3
If time for performance is not stated in the contract, the court will say that the actions associated with the contract must be completed
A)in a time agreeable by the court.
B)within a reasonable time.
C)within six months.
D)within a year.
4
When a breach of contract occurs,
A)one person is injured.
B)the statute of limitations is void.
C)a transfer of rights under contract occurs.
D)a transfer of duty under contract occurs.
5
One example of a debt that cannot be discharged under bankruptcy law is a(n)
A)educational loan.
B)hospital bill.
C)car loan.
D)home mortgage loan.
6
The courts will allow a discharge for impossibility of performance when
A)substantial performance has occurred in good faith.
B)a tender of performance occurs.
C)death or illness prevents the performance of the contract.
D)there is a mutual agreement by all parties involved.
7
The remedy of specific performance can only be used when
A)actual damages are greater than incidental damages.
B)there is a mitigation of damages.
C)a party is prevented from performing an act of some sort.
D)money damages are not sufficient to give relief.
8
The transfer of a right under a contract is called a(n)
A)privity of contract.
B)assignment.
C)novation.
D)delegation.
9
A third-party beneficiary
A)is a party to the contract and benefits from it.
B)is not a party to the contract, but benefits from it.
C)does not have standing to bring suit within the terms of the contract.
D)can also be called a novation.
10
The act of destroying someone's free will by force, threat of force, or bodily harm is called
A)libel.
B)slander.
C)duress.
D)undue influence.
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