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Kubasek Assent Quiz

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
A __________ is a particular event that must occur in order for a party's duty to arise.   Condition precedent  
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A __________ is a future event that terminates the obligation of the parties when it occurs.   Condition subsequent  
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__________ occur when each party's performance is conditioned on the performance of the other.   Concurrent conditions  
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__________ conditions are explicitly stated in the contract.   Express  
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__________ conditions are those that are not explicitly stated, but are instead inferred from the nature and language of the contract.   Implied  
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__________ 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  
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A(n) __________ breach discharges the non-breaching party from his/her obligation under the contract.   Material  
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Which of the following represents discharge of the contract by mutual agreement?   Mutual rescission  
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Which of the following represents discharge of the contract by operation of law?   Bankruptcy Tolling of the statute of limitations Impossibility of performance  
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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  
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Created by: tinafici
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