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Discharging a Contract: Performance and Exceptions

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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?

The general rule of performance does not apply Signup and view all the answers

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

Substantial performance Signup and view all the answers

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

The party is in breach of warranty Signup and view all the answers

What is the primary way a contract can be discharged?

Performance, where all obligations are performed exactly and completely. Signup and view all the answers

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

Severable contracts. 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?

Substantial performance. Signup and view all the answers

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

The general rule does not apply. Signup and view all the answers

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

Breach of warranty, allowing for damages. Signup and view all the answers

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

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