Discharging a Contract: Performance and Exceptions
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Questions and Answers

What is the general rule regarding performance of a contract?

  • Performance can be modified by the parties' agreement
  • Performance can be partial and still be considered complete
  • Performance must match exactly and completely (correct)
  • Performance must match exactly and partially

    • What is the result if one party tenders performance but the other party refuses?

  • The party that tendered performance is in breach of contract
  • The parties' obligations are discharged (correct)
  • The parties' obligations are still enforceable
  • The party that refused performance is in breach of contract

    • What is the term for a contract that can be enforced in separate parts?

  • Substantially performed contract
  • Partially performed contract
  • Divisible contract
  • Severable contract (correct)

    • What is the result if a party is prevented from performing their obligations?

    <p>The general rule of performance does not apply</p> Signup and view all the answers

    What is the term for a situation where a party has largely performed their obligations?

    <p>Substantial performance</p> Signup and view all the answers

    What is the result if a time is set for performance and it is not met?

    <p>The party is in breach of warranty</p> Signup and view all the answers

    What is the primary way a contract can be discharged?

    <p>Performance, where all obligations are performed exactly and completely.</p> Signup and view all the answers

    In what type of contracts can each party's obligation be enforced separately?

    <p>Severable contracts.</p> Signup and view all the answers

    What is the term for when a party has substantially performed their obligations and may be entitled to appropriate payment?

    <p>Substantial performance.</p> Signup and view all the answers

    What happens to the general rule of performance if one party refuses the tendered performance of the other?

    <p>The general rule does not apply.</p> Signup and view all the answers

    What is the consequence of not meeting a set time for performance in a contract?

    <p>Breach of warranty, allowing for damages.</p> Signup and view all the answers

    What must be made clear by both parties for time to be of the essence in a contract?

    <p>That time is of the essence, and repudiation will occur if the deadline is not met.</p> Signup and view all the answers

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