AIC 301 - EXPANDING YOUR CLAIMS
PERSPECTIVE Exam Questions And 100%
Verified Answers| Latest 2026/ 2027
Update| Graded A+
In a written contract to purchase ten electric guitars from Phillip, Vivian
agreed to pay $100 per guitar. The contract did not describe the guitars
even though Phillip and Vivian had discussed the condition and quality
of the guitars. When Phillip delivered the guitars, Vivian would not pay
because they were not what she expected in terms of quality. In a legal
action, it is likely Vivian
Select one:
A. Will be allowed to submit oral evidence to help interpret or explain
ambiguity in the contract.
B. Will not be allowed to submit evidence to clarify ambiguity since the
parol evidence rule applies.
C. Will be allowed to submit oral evidence in order to alter the terms of
the contract.
D. Will not be allowed to dispute the contract and must pay for the
guitars. - correct answer -A. Will be allowed to submit oral evidence to
help interpret or explain ambiguity in the contract.
,It is likely that because of ambiguity and vagueness in the contract
wording that Vivian will be allowed to submit oral evidence for the
purpose of clarification.
Which one of the following is true regarding a void contract?
Select one:
A. A contract with a minor is always a void contract.
B. A void contract is not legally enforceable or binding.
C. A void contract is a contract in which the parties can execute it
completely unless an innocent party chooses to avoid it.
D. A void contract is entered into under fraud or duress. - correct
answer -B. A void contract is not legally enforceable or binding.
A "void" contract is not legally enforceable or binding. In contrast, a
"voidable" contract is a contract in which the parties can execute it
completely unless an innocent party chooses to "avoid" it.
ABC Corporation, which purchased insurance from XYZ Insurance
Company, materially breached the insurance contract. Which one of the
following is a right the insurer has against the insured?
Select one:
, A. Substantial performance
B. Repudiation
C. Tender of performance
D. Nonperformance - correct answer -D. Nonperformance
Nonperformance is a right the insurer has against the insured when a
material breach occurs. A party's material breach excuses the other
party's performance and immediately gives rise to remedies for breach
of contract. Repudiation is a party's refusal to meet obligations under a
contract. Substantial performance is the performance of the primary,
necessary terms of an agreement. A tender is an offer to perform one's
duties under a contract.
Susie agreed to sell grocer Marcus 1,000 jars of jelly for a total price of
$2,000. Marcus breached the contract, and Susie had to find an
alternate buyer. She found one who would purchase the jelly for
$1,500. Susie, therefore, lost $500 because of Marcus' breaching their
contract of sale. Susie has which one of the following remedies
available for this breach of contract?
Select one:
A. Injunction
B. Damages
C. Specific performance
PERSPECTIVE Exam Questions And 100%
Verified Answers| Latest 2026/ 2027
Update| Graded A+
In a written contract to purchase ten electric guitars from Phillip, Vivian
agreed to pay $100 per guitar. The contract did not describe the guitars
even though Phillip and Vivian had discussed the condition and quality
of the guitars. When Phillip delivered the guitars, Vivian would not pay
because they were not what she expected in terms of quality. In a legal
action, it is likely Vivian
Select one:
A. Will be allowed to submit oral evidence to help interpret or explain
ambiguity in the contract.
B. Will not be allowed to submit evidence to clarify ambiguity since the
parol evidence rule applies.
C. Will be allowed to submit oral evidence in order to alter the terms of
the contract.
D. Will not be allowed to dispute the contract and must pay for the
guitars. - correct answer -A. Will be allowed to submit oral evidence to
help interpret or explain ambiguity in the contract.
,It is likely that because of ambiguity and vagueness in the contract
wording that Vivian will be allowed to submit oral evidence for the
purpose of clarification.
Which one of the following is true regarding a void contract?
Select one:
A. A contract with a minor is always a void contract.
B. A void contract is not legally enforceable or binding.
C. A void contract is a contract in which the parties can execute it
completely unless an innocent party chooses to avoid it.
D. A void contract is entered into under fraud or duress. - correct
answer -B. A void contract is not legally enforceable or binding.
A "void" contract is not legally enforceable or binding. In contrast, a
"voidable" contract is a contract in which the parties can execute it
completely unless an innocent party chooses to "avoid" it.
ABC Corporation, which purchased insurance from XYZ Insurance
Company, materially breached the insurance contract. Which one of the
following is a right the insurer has against the insured?
Select one:
, A. Substantial performance
B. Repudiation
C. Tender of performance
D. Nonperformance - correct answer -D. Nonperformance
Nonperformance is a right the insurer has against the insured when a
material breach occurs. A party's material breach excuses the other
party's performance and immediately gives rise to remedies for breach
of contract. Repudiation is a party's refusal to meet obligations under a
contract. Substantial performance is the performance of the primary,
necessary terms of an agreement. A tender is an offer to perform one's
duties under a contract.
Susie agreed to sell grocer Marcus 1,000 jars of jelly for a total price of
$2,000. Marcus breached the contract, and Susie had to find an
alternate buyer. She found one who would purchase the jelly for
$1,500. Susie, therefore, lost $500 because of Marcus' breaching their
contract of sale. Susie has which one of the following remedies
available for this breach of contract?
Select one:
A. Injunction
B. Damages
C. Specific performance
