Q. In the case of Hyde v. Wrench, what was the significance of the counter-offer?
-
A.
It created a new contract
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B.
It rejected the original offer
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C.
It was a mere inquiry
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D.
It was accepted by the original offeror
Solution
The counter-offer rejected the original offer, meaning that the original offer could no longer be accepted.
Correct Answer:
B
— It rejected the original offer
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Q. In the case of Jacob & Youngs v. Kent, what was the primary issue regarding breach of contract?
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A.
Quality of materials used
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B.
Timeliness of performance
-
C.
Payment terms
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D.
Capacity to contract
Solution
The primary issue was the quality of materials used, as the builder used a different brand of pipe than specified.
Correct Answer:
A
— Quality of materials used
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Q. In the case of Kearney v. Salomon, what was the primary issue regarding the breach?
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A.
Failure to perform on time
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B.
Failure to perform to specifications
-
C.
Failure to provide notice of breach
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D.
Failure to pay damages
Solution
The primary issue was the failure to perform to specifications as outlined in the contract.
Correct Answer:
B
— Failure to perform to specifications
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Q. In the case of Poussard v Spiers and Pond, what was the outcome regarding breach of contract?
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A.
The breach was minor
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B.
The breach was anticipatory
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C.
The breach was fundamental
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D.
There was no breach
Solution
The breach was fundamental as the performer failed to show up for the opening night, which was essential to the contract.
Correct Answer:
C
— The breach was fundamental
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Q. In the case of Raffles v. Wichelhaus, what was the main reason for the court's decision?
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A.
Lack of consideration
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B.
Mutual mistake
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C.
Unconscionability
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D.
Impossibility of performance
Solution
The court found that there was a mutual mistake regarding the identity of the ship, leading to no binding contract.
Correct Answer:
B
— Mutual mistake
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Q. In the case of Routledge v Grant, what was the significance of the time frame in the offer?
-
A.
Offers can be revoked at any time
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B.
Offers are binding once made
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C.
Offers must remain open for a specified time
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D.
Offers can only be revoked after acceptance
Solution
The significance was that offers can be revoked at any time before acceptance, even if a time frame is mentioned.
Correct Answer:
A
— Offers can be revoked at any time
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Q. In the case of Sullivan v. O'Connor, what type of damages were the plaintiffs awarded?
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A.
Punitive damages
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B.
Consequential damages
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C.
Compensatory damages
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D.
Nominal damages
Solution
The plaintiffs were awarded compensatory damages for the pain and suffering caused by the botched surgery.
Correct Answer:
C
— Compensatory damages
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Q. In the case of Thomas v Thomas, what was the court's view on consideration?
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A.
Consideration must be monetary
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B.
Consideration must be sufficient but need not be adequate
-
C.
Consideration must be adequate
-
D.
Consideration is not necessary
Solution
The court held that consideration must be sufficient but need not be adequate, meaning it must have some value.
Correct Answer:
B
— Consideration must be sufficient but need not be adequate
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Q. In the context of property transfer, what is 'performance'?
-
A.
The act of fulfilling contractual obligations
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B.
The act of breaching a contract
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C.
The act of negotiating terms
-
D.
The act of drafting a contract
Solution
Performance refers to the act of fulfilling the obligations set out in a contract.
Correct Answer:
A
— The act of fulfilling contractual obligations
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Q. In the context of tort law, what is negligence?
-
A.
A breach of a legal duty.
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B.
An intentional act.
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C.
A strict liability offense.
-
D.
A criminal act.
Solution
Negligence is defined as a breach of a legal duty that results in harm to another party.
Correct Answer:
A
— A breach of a legal duty.
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Q. In the event of a breach, what is the duty of the non-breaching party?
-
A.
To mitigate damages
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B.
To ignore the breach
-
C.
To terminate the contract immediately
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D.
To seek punitive damages
Solution
The non-breaching party has a duty to mitigate damages, meaning they must take reasonable steps to reduce their losses.
Correct Answer:
A
— To mitigate damages
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Q. In which situation might a court order specific performance as a remedy?
-
A.
When the contract is for the sale of goods
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B.
When the subject matter of the contract is unique
-
C.
When the parties agree to it
-
D.
When the breach is minor
Solution
A court might order specific performance when the subject matter of the contract is unique, such as in real estate transactions.
Correct Answer:
B
— When the subject matter of the contract is unique
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Q. Incorporation of a company provides which of the following benefits?
-
A.
Limited liability for shareholders
-
B.
Unlimited liability for directors
-
C.
Tax exemptions for all income
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D.
No regulatory requirements
Solution
Incorporation provides limited liability for shareholders, protecting their personal assets from the company's debts.
Correct Answer:
A
— Limited liability for shareholders
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Q. Under the Transfer of Property Act, what is required for a valid contract concerning the sale of property?
-
A.
Written agreement
-
B.
Registration of the contract
-
C.
Payment of consideration
-
D.
All of the above
Solution
A valid contract for the sale of property requires a written agreement, registration, and payment of consideration.
Correct Answer:
D
— All of the above
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Q. What constitutes a breach of contract?
-
A.
Failure to perform as specified in the contract
-
B.
Negotiating a better deal
-
C.
Changing the terms of the contract unilaterally
-
D.
All of the above
Solution
A breach of contract occurs when a party fails to perform as specified in the contract.
Correct Answer:
A
— Failure to perform as specified in the contract
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Q. What constitutes consideration in a contract under the Transfer of Property Act?
-
A.
A promise to do something
-
B.
A promise to refrain from doing something
-
C.
A benefit to one party or a detriment to another
-
D.
All of the above
Solution
Consideration can be a promise to do something, a promise to refrain from doing something, or a benefit/detriment to the parties involved.
Correct Answer:
D
— All of the above
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Q. What does 'performance' refer to in contract law?
-
A.
The act of fulfilling contractual obligations.
-
B.
The negotiation process.
-
C.
The drafting of the contract.
-
D.
The signing of the contract.
Solution
Performance refers to the act of fulfilling the obligations set forth in a contract.
Correct Answer:
A
— The act of fulfilling contractual obligations.
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Q. What does 'specific performance' mean in the context of contract law?
-
A.
Monetary compensation for damages
-
B.
A court order to fulfill the contract
-
C.
Cancellation of the contract
-
D.
Modification of the contract terms
Solution
Specific performance is a court order requiring a party to fulfill their contractual obligations.
Correct Answer:
B
— A court order to fulfill the contract
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Q. What happens if a contract is breached?
-
A.
The contract is automatically void
-
B.
The breaching party must pay damages
-
C.
The contract remains valid
-
D.
The non-breaching party must continue performance
Solution
If a contract is breached, the breaching party is typically liable for damages.
Correct Answer:
B
— The breaching party must pay damages
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Q. What happens if an offer is revoked before acceptance?
-
A.
The offer is still valid
-
B.
The offeree can still accept
-
C.
The offer is void
-
D.
The offer can be accepted later
Solution
If an offer is revoked before acceptance, it becomes void and cannot be accepted.
Correct Answer:
C
— The offer is void
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Q. What happens if one party breaches a contract?
-
A.
The contract is automatically void.
-
B.
The non-breaching party can seek remedies.
-
C.
Both parties must renegotiate the contract.
-
D.
The breaching party is always liable for damages.
Solution
If one party breaches a contract, the non-breaching party can seek remedies for the breach.
Correct Answer:
B
— The non-breaching party can seek remedies.
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Q. What is 'capacity' in contract law?
-
A.
The ability to perform the terms of the contract.
-
B.
The legal ability to enter into a contract.
-
C.
The financial ability to fulfill the contract.
-
D.
The willingness to negotiate terms.
Solution
Capacity refers to the legal ability of a party to enter into a contract.
Correct Answer:
B
— The legal ability to enter into a contract.
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Q. What is 'specific performance' in contract law?
-
A.
A type of damages awarded for breach
-
B.
A court order to fulfill the terms of the contract
-
C.
A negotiation tactic
-
D.
A method of contract termination
Solution
Specific performance is a legal remedy where the court orders the breaching party to perform their contractual obligations.
Correct Answer:
B
— A court order to fulfill the terms of the contract
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Q. What is a breach of contract?
-
A.
Failure to perform any term of a contract
-
B.
Performing a contract partially
-
C.
Performing a contract late
-
D.
All of the above
Solution
A breach of contract can occur through failure to perform, partial performance, or late performance.
Correct Answer:
D
— All of the above
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Q. What is a common remedy for breach of a marriage contract?
-
A.
Monetary damages
-
B.
Specific performance
-
C.
Annulment of the marriage
-
D.
Injunction against future actions
Solution
Annulment of the marriage is a common remedy for breach of a marriage contract, as it voids the marriage as if it never occurred.
Correct Answer:
C
— Annulment of the marriage
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Q. What is an anticipatory breach?
-
A.
A breach that occurs after the contract is signed
-
B.
A party's indication that they will not perform their obligations
-
C.
A minor failure to perform
-
D.
A breach that is resolved before it occurs
Solution
An anticipatory breach occurs when one party indicates they will not perform their contractual obligations.
Correct Answer:
B
— A party's indication that they will not perform their obligations
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Q. What is an example of a unilateral contract?
-
A.
A contract for the sale of goods.
-
B.
A reward contract for finding a lost pet.
-
C.
A lease agreement.
-
D.
A partnership agreement.
Solution
A unilateral contract is one where one party makes a promise in exchange for an act, such as a reward for finding a lost pet.
Correct Answer:
B
— A reward contract for finding a lost pet.
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Q. What is consideration in contract law?
-
A.
A mutual agreement between parties.
-
B.
Something of value exchanged between parties.
-
C.
The legal capacity to enter a contract.
-
D.
The intention to create legal relations.
Solution
Consideration refers to something of value exchanged between parties in a contract.
Correct Answer:
B
— Something of value exchanged between parties.
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Q. What is consideration in the context of contract formation?
-
A.
A formal agreement between parties
-
B.
Something of value exchanged between parties
-
C.
The intention to enter into a contract
-
D.
The legal capacity of the parties
Solution
Consideration refers to something of value exchanged between parties, which is essential for a contract to be enforceable.
Correct Answer:
B
— Something of value exchanged between parties
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Q. What is required for a contract to be considered performed?
-
A.
Both parties must agree to the terms
-
B.
All parties must fulfill their obligations
-
C.
Only one party must fulfill their obligations
-
D.
The contract must be in writing
Solution
A contract is considered performed when all parties fulfill their obligations as outlined in the agreement.
Correct Answer:
B
— All parties must fulfill their obligations
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Showing 31 to 60 of 126 (5 Pages)
