Discharge of Contracts
This quiz covers the various methods by which a contract can be discharged, including performance, agreement, frustration, breach, and operation of law.
Questions
Which of the following is NOT a method of discharging a contract?
- Performance
- Agreement
- Frustration
- Novation
When a contract is discharged by performance, what must be done?
- All parties must perform their obligations under the contract.
- Only one party must perform their obligations under the contract.
- The parties must agree to terminate the contract.
- The court must order the contract to be discharged.
What is the legal term for an agreement between parties to terminate a contract?
- Rescission
- Novation
- Frustration
- Breach
When a contract is discharged by frustration, what has occurred?
- An unforeseen event has made it impossible or impracticable to perform the contract.
- One party has breached the contract.
- The parties have agreed to terminate the contract.
- The court has ordered the contract to be discharged.
What is the legal term for a party's failure to fulfill their obligations under a contract?
- Performance
- Agreement
- Frustration
- Breach
What is the legal term for the termination of a contract by operation of law?
- Rescission
- Novation
- Frustration
- Operation of Law
What is the legal term for the process of replacing an existing contract with a new contract?
- Rescission
- Novation
- Frustration
- Breach
In the case of a breach of contract, what are the two main types of remedies?
- Compensatory damages and specific performance
- Rescission and injunction
- Restitution and reformation
- Novation and frustration
What is the legal term for the payment of money to compensate for a loss suffered as a result of a breach of contract?
- Compensatory damages
- Specific performance
- Rescission
- Injunction
What is the legal term for a court order requiring a party to perform their obligations under a contract?
- Compensatory damages
- Specific performance
- Rescission
- Injunction
What is the legal term for the cancellation of a contract and the restoration of the parties to the positions they were in before the contract was entered into?
- Compensatory damages
- Specific performance
- Rescission
- Injunction
What is the legal term for a court order prohibiting a party from doing something?
- Compensatory damages
- Specific performance
- Rescission
- Injunction
What is the legal term for the return of property or money that was transferred under a contract that has been discharged?
- Restitution
- Reformation
- Novation
- Frustration
What is the legal term for the process of correcting a mistake in a written contract?
- Restitution
- Reformation
- Novation
- Frustration
What is the legal term for the process of replacing an existing contract with a new contract that is substantially different?
- Restitution
- Reformation
- Novation
- Frustration