Questions and Answers 100% Pass
When a party's obligations under a contract are terminated they are said to
be _______. - ANSWER✔✔-discharged
Contractual conditions may be either ______ by law or ______ inserted into
a contract by the parties in the contract. - ANSWER✔✔-implied; expressly
A condition ______ is a particular event that must occur for a party's duty
to arise. - ANSWER✔✔-precedent
In the context of discharging a contract, a condition ______ is a future event
that terminates the obligations of the parties when it occurs. -
ANSWER✔✔-subsequent
When each party's performance is conditioned on the performance of the
other, the conditions are ______. - ANSWER✔✔-concurrent
In the context of discharging a contract, ______ conditions are explicitly
stated in the contract. - ANSWER✔✔-express
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,Contracts containing conditions affecting the performance obligations of
the parties in a contract are called ______ contracts. - ANSWER✔✔-
Conditional
If a condition precedent does not occur when discharging a contract,
______. - ANSWER✔✔-the contracting party's duty to perform does not
arise
John enters into an agreement to lease an apartment for five years,
conditioned on him not being called to active duty in the National Guard.
If he is called to serve, this is a condition ______, and his obligation to be
bound by the lease is discharged. - ANSWER✔✔-subsequent
In the context of discharging a contract, ______ conditions occur when each
party's performance is conditioned on the performance of the other. -
ANSWER✔✔-concurrent
______ conditions are usually preceded by words such as conditioned on,
if, provided that, or when. - ANSWER✔✔-Express
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, In the context of discharging a contract, ______ conditions are those that
are not explicitly stated but are inferred from the nature and language of
the contract. - ANSWER✔✔-implied
If a homeowner enters into a contract with a builder to replace the
windows in his house, there is a(n) ______ condition that the builder will
be allowed to enter the house to complete the window removal and
installation. - ANSWER✔✔-implied
A(n) ________ is a promise that parties are legally required to perform
under a contract. - ANSWER✔✔-covenant
Contracted parties discharge their obligations by doing what they
respectively agreed to do under the terms of an agreement; this is called
discharge by ______. - ANSWER✔✔-performance
If, consistent with his contractual duty, a painter shows up at a home with
his paint and ladder and is ready to begin painting the garage, he _____. -
ANSWER✔✔-has tendered performance upon arrival at the house
______ performance occurs when every aspect of the parties' duties under a
contract is carried out perfectly. - ANSWER✔✔-Complete
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