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Exam 17: Performance, Breach, and Discharge

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Question 31

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A condition subsequent is a much more frequent occurrence than a condition precedent.

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Question 32

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Which of the following is true with respect to substantial performance?

A) It does not apply to the construction industry.
B) Substantial performance does not defeat the purpose of the contract.
C) When one party to a contract has substantially performed, the other party cannot recover damages for the imperfect performance.
D) All of these.

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Question 33

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a. List and summarize the situations where a contract is discharged by agreement of the parties. b. List and summarize the situations where a contract is discharged by operation of law.

Bill recently borrowed $50 from Ricardo for a couple of weeks. Bill, still short of cash, tells Ricardo, "I will wash and wax your car in exchange for the $50 I owe you." Ricardo tells Bill, "OK, that's great!" Ricardo's performance of his new duty will be:

Sid contracts to put new kitchen cabinets in Ned's house. Sid repeatedly tries to install the cabinets, but Ned does not grant him access to the house. In this case:

Wilmer and Grace have an executory contract for the sale of some goods. Wilmer files for bankruptcy and is then discharged by the bankruptcy court. Wilmer has no obligation to perform under the contract with Grace.

Milt built a barn for the Lowreys, but unintentionally deviated from the agreed specifications. The contract price for Milt's work was $10,500. The barn is usable, but the damages for his deviation were $700. Identify the type of breach the courts would probably deem Milt's departure from the contract to be, and discuss the result of this type of breach.

Jim contracted with Kevin to serve as a guide for Kevin on his three-week fishing trip to Canada. The contract was made on April 1 with the trip to begin on June 1. On May 1, Kevin notified Jim that he had changed his mind and would be unable to make the trip. He also refused to pay Jim any compensation. In this case:

Discharge by performance is the most frequent method of discharging a contractual duty.

The Code and the Restatement have no provisions for discharge of contractual duties in cases involving commercial impracticability.

An implied-in-law condition need only be substantially performed.

Concurrent conditions occur when mutual duties of performance are to take place simultaneously.

A and B enter into a contract on January 1 of this year. A 's friend C tells A , "The law generally restricts the time within which an action can be brought by either party to a contract." C 's statement is:

On November 1, Paula and Roberta enter into a contract where both parties are obligated to perform on December 31. On December 1, Paula tells Roberta, "I can, in no way, perform my duties in our contract." This statement is:

A person who has made a financially unsound contract may be relieved from performance under the doctrine of commercial impracticability.

An unauthorized alteration of ANY of the material terms in a written contract discharges the entire contract.

An anticipatory repudiation by one party to a contract precludes a discharge by performance by that same party.

If there is a novation, the original promisor remains liable to the original promisee if the new promisor fails to perform.

Tender is an offer by a party, who is ready, willing, and able, to perform his obligations under the contract.

An accord and satisfaction discharges the original debt.