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LEX-150 Commercial Law For The Performance Of Contract

tag 0 Download 3 Pages / 630 Words tag 28-09-2020

Questions:

1.What is the term of art that describes the parties to a contract having completed all of the parties’ respective obligations under the contract? What is the term of art for failure to perform under the contract?

2.With respect to the performance stage of a contract, assume I have contracted with you to pay you $5,000.00 for which you will deliver 500 widgets to me. What kind of duty is the payment of the $5,000? Assume the same set of facts and question except that the $5,000.00 will be paid only if I can get a loan from BB&T?

3.What are the two general classifications of conditions? Give an example of each.

4.Define the term of “excuse of conditions.” Give one example of an excuse of conditions.

5.What are the two standards of performance with respect to the fulfillment of a contract? Give an example of one of the standards.

6.What is the difference between material and nonmaterial breach of contract in terms of definition, effect of breach and remedies?

7.With respect to the facts in Question 2, assume the following: 1) there is no condition about a BB&T loan; 2) the contract specifies green widgets; 3) there is an inscription on the widgets that say “Happy April Fool’s Day;” 4) the widgets must be delivered by March 25, 2018. You deliver me blue widgets on April 5, 2018. Are the breaches material or nonmaterial? Why?

8.Assuming the facts in Question 7, do you have any remedies for that part of the contract that you have partially performed? What are they and why?

9.Assuming the facts in Question 7, assume further that your widget factory was attacked and totally destroyed by space aliens on March 20, 2018. My widgets were destroyed in the attack. Do you have common law and UCC excuses for nonperformance. If so, what are they? Cite to authority in Bluebook format.

10.Assuming the facts in Question 7, do I have legal and equitable remedies that I may pursue for breach of the contract? Which specific remedies and why? If you identify money damages as a remedy, what specific kind?
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My Assignment Help. 'LEX-150 Commercial Law For The Performance Of Contract' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/lex-150-commercial-law-for-the-performance-of-contract> accessed 29 January 2023.

My Assignment Help. LEX-150 Commercial Law For The Performance Of Contract [Internet]. My Assignment Help. 2020 [cited 29 January 2023]. Available from: https://myassignmenthelp.com/free-samples/lex-150-commercial-law-for-the-performance-of-contract.


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