Question 8 1 1 pts a contract may include a clause

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Question 8 1 / 1 pts A contract may include a clause stating that damages will be limited to a maximum amount. Correct! True
False Question 9 1 / 1 pts
Contracts that are executory on both sides can be rescinded by agreement.
Question 10 1 / 1 pts After a contract is made, a supervening event may make performance impossible and discharge the contract.
Question 11 1 / 1 pts In a contract for a sale of goods, the usual measure of compensatory damages is the difference between the retail price and the wholesale price.
Question 12 1 / 1 pts Expenses that are caused directly by a breach of a contract are known as primary damages. True Correct! False
Question 13 1 / 1 pts A party seeking to recover in quasi contract must show that the other party has been unjustly enriched.
Question 14 1 / 1 pts The most common way to discharge one’s contractual duties is by breach of contract.
Question 15 1 / 1 pts A delegation relieves the party making it of the obligation to perform.
Question 16 1 / 1 pts Both intended and incidental beneficiaries acquire legal rights in a contract. True Correct! False
Question 17 1 / 1 pts Renee contracts with Scott to pay him $25,000 for his work on Renee’s new album “Hip Pop.” After Scott performs, they sign an accord, in which Renee promises to pay him $21,000 within thirty days instead of $25,000 later. But she does not pay. Scott can sue Renee on
Question 18 1 / 1 pts
Most contracts need to be performed only to the satisfaction of a reasonable person unless they expressly state otherwise.
Question 19 1 / 1 pts Dry Gulch Farms hires Elliot to repair its irrigation system on site on a certain date for $2,500, but Elliot does not show up as agreed. Dry Gulch hires Fernando to do the job for $2,000. Dry Gulch may recover
Question 20 1 / 1 pts Gliding Light, LLC, and Hang Gliders, Inc., are parties to a contract. They subsequently agree that High Riders Inc. should take Gliding Light’s place and assume all of its rights and duties under the contract. This is a mutual agreement to rescind. an accord and satisfaction. Correct! a novation. a settlement agreement.
MODULE 7

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