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Multiple Choice Quiz
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1
The promise upon which the contract rests is known as a condition.
A)True
B)False
2
An event that, if it happens after the parties' performance obligations, negates the duty to perform is referred to as a condition subsequent.
A)True
B)False
3
If a contract states the amount of money to be paid for an item and the date on which it will be sold, these terms are considered implied conditions.
A)True
B)False
4
If a contract states the time limit by which a party has to perform, that term is considered a condition implied in fact.
A)True
B)False
5
An event that may or may not happen, but upon which the rest of the performance of the contract rests is known as a condition.
A)True
B)False
6
A __________________ is the contractual promise to perform with no strings attached.
A)condition
B)covenant
C)time for performance
D)contract
7
If there are terms other than the performance promises that the parties wish to incorporate into a contract, these terms are ______________________.
A)covenants
B)implied
C)conditions
D)time for performance
8
Which of the following is not a type of "timing conditions"?
A)Condition precedent
B)Condition subsequent
C)Express condition
D)Concurrent condition
9
If a contract is silent as to when a party's performance becomes due, a court can:
A)imply a reasonable time given the circumstances.
B)imply an unreasonable time given the circumstances.
C)do nothing.
D)forfeit the contract.
10
Performance can be taken back or excused through use of a condition:
A)express.
B)concurrent.
C)precedent.
D)subsequent.





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