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Questions and Answers
What is a breach of contract according to the provided definition?
What is a breach of contract according to the provided definition?
- A failure to render substantial performance only
- Any failure to render full performance when due (correct)
- A minor failure to render full performance when due
- A material breach that thwarts the purpose of the contract
What happens if a party commits a minor breach at common law?
What happens if a party commits a minor breach at common law?
- The nonbreaching party can suspend its performance
- The nonbreaching party is entitled to damages but must still render performance (correct)
- The breaching party is entitled to damages
- The contract is automatically terminated
What is a material breach?
What is a material breach?
- A technical breach that affects the breaching party's performance
- A minor breach that leaves the nonbreaching party with the essential benefit
- Any failure to render full performance when due
- A breach that thwarts the purpose of the contract or deprives the nonbreaching party of the essential benefit (correct)
What is the rule that governs contracts for the sale of goods?
What is the rule that governs contracts for the sale of goods?
What is a condition to each party's remaining duty of performance?
What is a condition to each party's remaining duty of performance?
What is the minimum remedy for a breach of contract?
What is the minimum remedy for a breach of contract?
What is the rule that allows a buyer to reject goods if they do not conform to the contract, even if the breach is minor?
What is the rule that allows a buyer to reject goods if they do not conform to the contract, even if the breach is minor?
What are the possible options for a buyer when a seller has breached the sales contract?
What are the possible options for a buyer when a seller has breached the sales contract?
In a contract for the sale of goods, what type of warranty may arise from an affirmation or promise about the goods?
In a contract for the sale of goods, what type of warranty may arise from an affirmation or promise about the goods?
If a seller is a merchant, what implied warranty does the contract contain?
If a seller is a merchant, what implied warranty does the contract contain?
What implied warranty applies to goods being fit for a specific purpose, regardless of whether the seller is a merchant?
What implied warranty applies to goods being fit for a specific purpose, regardless of whether the seller is a merchant?
What is the term for a party communicating their unwillingness or inability to perform before their performance is due?
What is the term for a party communicating their unwillingness or inability to perform before their performance is due?
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