The transfer of one's contract rights is called a delegation.
BUS 115 - Unit 4 Review

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12th Grade
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Hard

Matt Baldwin
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12 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
True
False
Answer explanation
Transfer of Rights = Assignment
Transfer of Duties = Delegation
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Before either party has a duty to perform, one of the parties may refuse to perform that party's contractual obligations. This is referred to as an anticipatory repudiation.
True
False
Answer explanation
This is a material breach.
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
All of these are types of damages in a breach of contract action (choose all applicable answers).
nominal
compensatory
punitive
wrongful
Answer explanation
Nominal - Recognize wrongdoing when no monetary loss is shown
Compensatory - Cover direct losses and costs
Punitive - To punish and deter wrongdoing
Consequential - To cover indirect and foreseeable losses
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Reese contracts to sell her Spicy Pizza restaurant to Titan. As part of the deal, Reese agrees not to open a competing business within a hundred-mile radius for ten years. Reese later sues Titan, alleging that the agreement is illegal. To enforce the covenant not to compete, the court will most likely.
award damages for Reese's complete compliance with the terms
reform the contract to make the distance and time limits reasonable
rescind the contract and require restitution
order specific performance
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Grass Farm LLC offers to sell 50 bales of hay at a certain price to Horse Stable, Inc. The owner of the stable responds, "We agree if you agree to make it 60 bales for the price." Their contract is formed according to
the new terms of the acceptance
whatever is reasonable
the terms of the original offer
none of the terms, it is a counteroffer
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
On a contract - "F.O.B. New York" - for a sale of almonds by a broker in California, the risk of loss passes to the buyer when conforming goods are placed in the possession of the carrier.
True
False
Answer explanation
FOB Destination - Seller retains responsibility until goods reach the buyer (destination)
FOB Shipping - Buyer takes responsibility for loss or damage the moment the goods get to the shipper
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In response to an order for a hundred baseballs, the shipment of a hundred basketballs is
an acceptance of the offer
breach of the contract
both
neither
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