18 Questions
If both parties fulfill their obligations under a contract, how is the contract discharged?
Through Performance
What term refers to the termination of contractual obligations, releasing parties from their duties under the contract?
Discharge
In the scenario where one party fails to fulfill its obligations, what may the innocent party consider regarding the contract?
Discharged due to Breach
Which event may discharge a contract due to making performance impossible?
Frustration of Purpose
Under what circumstances may a contract be discharged by operation of law?
Death or illegality of the subject matter
If A fails to deliver goods as per the contract terms, what may B consider regarding the contract?
Discharged by Breach
What is the most common remedy for a breach of contract?
Damages
What type of damages are awarded to punish the breaching party for egregious behavior?
Punitive Damages
What is the court order that requires the breaching party to fulfill its contractual obligations?
Specific Performance
Which remedy involves reversing a contract and restoring both parties to their pre-contract positions?
Rescission
Under what circumstances might nominal damages be awarded in a breach of contract?
When no actual loss has occurred
Which legal concept may discharge a contract due to unforeseen events making performance impossible?
Frustration
What does 'performance of contract' refer to?
Fulfillment of obligations and terms agreed upon in a contract
In contract law, complete performance occurs when:
All terms and conditions of the contract are fulfilled as agreed
What is the main difference between a void agreement and a voidable agreement?
A void agreement can be voided under specific conditions, while a voidable agreement is enforceable
When does partial performance of a contract occur?
When some but not all terms in the contract are fulfilled
Which concept involves giving one party the option to avoid a contract due to specific factors such as fraud or coercion?
Void Agreement
In which situation would a contract be considered discharged by operation of law?
When a change in law makes performance impossible
Test your knowledge on the discharge of contract, which refers to the termination of contractual obligations. Explore the different ways contracts can be discharged, such as through performance, agreement, or breach.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
