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Chapter 13 Law Book Flashcards | StudBud

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Chapter 13 Law Book

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Quiz on Chapter 13 on the Law for Business and Personal use book

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Questions 10

Answers

1
What is a breach of contact?
A person who performed their contract duties
When someone doesn't want to be in a contract anymore
An outdated term that is no longer in use
Failure to provide complete performance
2
Who transfers contractual rights to another party?
Assignor
Donor
Obligor
Promisor
3
What is legal tender?
A legal favor
A release of contract dutities from the assignor
Currency or coins
material changes in contract terms
4
When can a person not delegate to another party?
If they feel the other party can't handle it
When performance requires speacial qualifications
When they want to do all the work
They don't know how to delegate
5
What is an obligor?
Someone who defaults in the contract
A person who breaches a contact
The one who owes a duty under a contract
The person that assigns contract duties
6
What are contractual duties?
Mumbo jumbo stuff
Tasks that you may or may not have to do
Legal obligations created by a contract
Illegal obligations
7
What is a reason a contract may be discharged for?
The party doesnt like the new secretary their partner has
They discharged by agreement
Their feelings were hurt during a meeting
Impossibility of performance
8
What is substantial performance?
All duties performed, but a minor duty remains
Personal inability to perform
When one party does most of the work
Unforseen events take place
9
When a party deceides present contract is not what they want and they replace it. This is what?
Cancellation
Accord
Satisfaction
Subsitiution
10
Performance of the new obligation is called what?
Novation
Alteration
Satisfaction
Tender