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BUSA 690 (31)
Lecture 14

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Business Admin
BUSA 690
Peter Younkin

- Which of the following statements is TRUE?  A contract will be discharged on the basis of anticipatory breach only if the innocent party chooses to relieve the party in breach of the need to perform the contract - Ranjit and Samantha, who are both business students, entered into a contract. He promised to tutor her in the law of negotiable instruments, and she promised to type his handwritten notes for him after each class. The contract was to start on September 1 and was to last for one academic year. Before the beginning of September, however, Samantha learned that she was enrolled in a course on mortgages, rather than a course on negotiable instruments. Furthermore, Ranjit received a laptop computer as a present from his parents. Ranjit and Samantha therefore have agreed that the original terms of their contract no longer make much sense. They also agree that it would be preferable if he tutored her in the law of mortgages and she designed a database that will allow him to most effectively use the lectures notes that he types for himself in class. Which of the following processes would best suit the parties' needs?  Variation - Which of the following situations best demonstrates the concept of self-induced impossibility?  Alpha agreed to transfer a particular vehicle to Beta. The transfer was to occur on June 1. On May 15, however, Alpha transferred the same car to Gamma, who was entirely unaware of the contract between Alpha and Beta - Boris purchased confidential information from Natasha for a price of $100 000. Under the terms of that contract, he was required to pay $5000 on the first day of each month for twenty consecutive months. He was also required, on the first day of each month, to pay 7.5 percent interest on the total amount of the debt that was outstanding. After paying $5000 plus interest for the first month, Boris explained to Natasha that he had suffered a financial setback in his other business ventures. He therefore asked if she would be willing to relieve him of the need to pay interest in the future. Which of the following statements is TRUE?  If Natasha says that she will not insist upon the payment of interest in the future, the doctrine of waiver may later prevent her from changing her mind - Which of the following statements is TRUE?  The breach of an intermediate term sometimes allows the innocent party to discharge the contract - Which of th
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