Which of the Following Is True with Regard to Ending

question 53

Multiple Choice

Which of the following is true with regard to ending a contract by performance, agreement, or breach?

• A) A person has legally tendered performance if he pays a $500 debt in 25-cent coins.
• B) If one party to the contract has paid for a service, but now the other doesn't want to perform, the contract is ended by agreement as long as they both agree to call it off.
• C) A contract ends by agreement when the parties include in the contract a "condition subsequent," i.e., a clause that says the contract will end upon the happening of a specified future event that then takes place.
• D) If a person properly tenders performance of a service that is rejected by the other party, he is required to try again and again.
• E) A contract can be ended by breach if there was a either a breach of condition or a breach of warranty.

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Definitions:

Innocently

Without guilt, harm, or malice; in a manner free from wrongdoing or deception.

Induce

To lead or move by persuasion or influence, often to do something.

Rescission

The act of canceling or invalidating a contract, returning all parties to their state prior to the contract.

Award

A formal acknowledgment, often involving a monetary gift, given in recognition of an achievement or as a decision in arbitration and legal matters.