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CONTRACTS - THEORY 02

Marina Penna 13 questions

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Questions in this quiz (13)

  1. 1d. Contractual Terms

    A contract may be [blank_start]express[blank_end] or [blank_start]implied[blank_end], [blank_start]oral[blank_end] or written.

    A [blank_start]condition[blank_end] is a requirement that must be met for the contractual obligations to be enforceable;

    A [blank_start]warranty[blank_end] is an assurance by one party that a statement of fact is true and may be relied upon by the other party; while a [blank_start]guarantee[blank_end] is a future promise e.g. to refund or repair defective goods.

    To [blank_start]indemnify[blank_end] is to compensate for, or cover the costs of, possible future loss.
    1. Aexpress
    2. Bimplied
    3. Coral
    4. Dcondition
    5. Ewarranty
    6. Fguarantee
    7. Gindemnify
  2. 2Contractor warrants that all services, deliverables, and/or work product under this Contract shall be completed in a workmanlike manner consistent with standards in the trade, profession, or industry; shall conform to or exceed the specifications set forth in the incorporated attachments; and shall be fit for ordinary use, of good quality, with no material defects.

    This clause represents a:
    1. AWarranty
    2. BGuarantee
  3. 3Seller shall either replace or shall refund the invoice price associated with, any Products which do not conform to Seller's warranty or are otherwise defective or damaged, upon the return of such Products to Seller.

    This clause represents a:
    1. AWarranty
    2. BGuarantee
  4. 4The insurance company will [blank_start]indemnify[blank_end] the owner of the building against water damage.
    1. Aindemnify
    2. Brefund the amount
    3. Crepay damages
  5. 5e. Defenses to contract formation

    A party may escape its obligations under a contract if it can prove, for example, [blank_start]fraud[blank_end], lack of [blank_start]legal capacity[blank_end] (if one of the parties was a minor or insane), [blank_start]duress[blank_end] (being forced to enter into the agreement by the threat or use of force or other pressure), or [blank_start]undue influence[blank_end] (e.g. if a person was persuaded to sign a contract detrimental to that person’s interests).

    Such contracts are not necessarily [blank_start]void[blank_end] or of no legal effect, but may be [blank_start]voidable[blank_end] (or avoided at the election of the minor or mentally incompetent person), which means the contract remains valid unless legitimately declared void.
    1. Afraud
    2. Bdeceit
    3. Ctrickery
    4. Dlegal capacity
    5. Elaw capacity
    6. Fnatural capacity
    7. Gduress
    8. Hcoercion
    9. Iconstraint
    10. Jundue influence
    11. Kinappropriate influence
    12. Limproper influence
    13. Mvoid
    14. Nivalid
    15. Ocanceled
    16. Pvoidable
    17. Qstrike down
    18. Rquash
  6. 6The illegality of the [blank_start]subject matter[blank_end] renders a contract [blank_start]void ab initio[blank_end], i.e. invalid from the [blank_start]beginning[blank_end].
    1. Asubject matter
    2. Bvoid ab initio
    3. Cbeginning
  7. 7The contract was voidable because one of the parties was induced to enter into the contract by fraudulent means.
    1. ATrue
    2. BFalse
  8. 8The end of the life of a contract

    In legal English, there are a number of terms that indicate the end of the life of a contract. Some are synonyms, others have different meanings.

    [blank_start]Expiration[blank_end] is used when a contract has come to the end of its natural life as expressly set out in the contract itself.

    [blank_start]Termination[blank_end] typically refers to the ending of a contract. This may occur through the mutual consent of the parties even before the contract anticipated expiration date.

    [blank_start]Cancellation[blank_end] puts an end to whatever remains to be performed under the contract, usually because the contract has been breached, or a party is in default.

    [blank_start]Rescission[blank_end] refers to the right of the parties to be returned to the status quo, i.e. to the position they were in before they entered into the contract.

    [blank_start]Repudiation[blank_end] (or anticipatory breach) refers to a party’s refusal to perform under the contract.

    [blank_start]Caveat[blank_end]: Although some of the terms above may be used interchangeably in some jurisdictions, other jurisdictions may attribute different meanings to the terms, which may then trigger different legal consequences.
    1. AExpiration
    2. BTermination
    3. CCancellation
    4. DRescission
    5. ERepudiation
    6. FCaveat
  9. 9This agreement is subject to termination [blank_start]at will[blank_end] by either party without [blank_start]notice[blank_end]. Party A chose to [blank_start]rescind[blank_end] the contract following Party B’s [blank_start]refusal[blank_end] to perform under the contract.
    1. Aat will
    2. Bnotice
    3. Crescind
    4. Drefusal
  10. 10LIQUIDATED DAMAGES - DAMAGES - MITIGATION - REMEDY - CONSEQUENTIAL DAMAGES/SPECIAL DAMAGES

    If a party breaches a contract and the non-breaching party suffers a loss, the latter may file a claim for breach of contract and seek a [blank_start]remedy[blank_end] such as monetary compensation or [blank_start]damages[blank_end]. The non-breaching party has a duty to [blank_start]mitigate[blank_end] the loss, i.e. to limit the amount of damage the breach causes. [blank_start]Liquidated damages[blank_end] are a fíxed sum agreed by the parties to be payable on a breach of contract by the breaching party to compensate the non- breaching party. [blank_start]Consequential damages[blank_end], also known as [blank_start]special damages[blank_end], are damages which do not arise directly from the breach but from the consequences of that breach.


    1. Adamages
    2. Bremedy
    3. Cmitigate
    4. DLiquidated damages
    5. EConsequential damages
    6. Fspecial damages

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Description
Idiomas CONTRACTS Quiz on CONTRACTS - THEORY 02, created by Marina Penna on 20/07/2021.
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Português
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