Indicate whether each of the following statements is true or false by writing T or F in the answer column.
1. A contract can be terminated in accordance with provisions in the contract itself.
1. _________
2. A consumer can terminate a contract made in the home with a door- to- door salesperson within three days. 2. _________
3. Complete and satisfactory performance of a contract will bring about its termination.
3. _________
4. A contract must be completely performed in all its details in order to be considered terminated. 4. _________
5. A tender of performance does not relieve a contracting party of his or her obligation to perform. 5. _________
6. A consumer has three days to cancel a contract in which his or her home has been pledged as security. 6. _________
7. Death or disabling illness of a party to a contract terminates the contract if such requires the particular skill or talent of the contracting party. 7. _________
8. A deliberate material alteration of a contract that affects the rights or obligations of the parties is cause for termination of the contract. 8. _________
9. If a law or regulation makes the performance of a contract illegal, the parties are released from their obligations. 9. _________
10. A party to a contract is released from his or her obligations if a law is passed that increases the cost of performing the contract. 10. _________
11. Except for promissory notes, the injured party in a contract may bring suit whenever he or she receives notice that the other party intends to breach the contract. 11. _________
12. A contract is breached if one party deliberately or negligently stands in the way of satisfactory performance. 12. _________
13. When one party to a contract receives notice of the other party’s intent to breach, he or she may continue with the performance of work or service covered by the contract, complete such work or service, and then sue for the entire amount of damages. 13. _________
14. An action for specific performance is a request that the court direct a party to perform a particular act agreed upon in a contract. 14. _________
15. A court order directing a person to refrain from performing a particular act is an injunction. 15. _________

  • CreatedOctober 01, 2015
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