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Assent Quiz

Kubasek Assent Quiz

A __________ is a particular event that must occur in order for a party's duty to arise. Condition precedent
A __________ is a future event that terminates the obligation of the parties when it occurs. Condition subsequent
__________ occur when each party's performance is conditioned on the performance of the other. Concurrent conditions
__________ conditions are explicitly stated in the contract. Express
__________ conditions are those that are not explicitly stated, but are instead inferred from the nature and language of the contract. Implied
__________ performance occurs when nearly all of the terms of the agreement have been completed, a good faith effort to complete all of the terms of the agreement, and there has been no "willful departure" from the terms of the agreement. Substantial
A(n) __________ breach discharges the non-breaching party from his/her obligation under the contract. Material
Which of the following represents discharge of the contract by mutual agreement? Mutual rescission
Which of the following represents discharge of the contract by operation of law? Bankruptcy Tolling of the statute of limitations Impossibility of performance
The doctrine of __________ can be used by the court when performance is still objectively possible, but would be extraordinarily injurious or expensive to one party. Commercial impracticability
Created by: tinafici