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Lecture 13

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Mangement (Extended Ed.)
MGMT 0130
Glynda White

- Which of the following statements defines the concept of "discharge of contract"?  none of the above - Discharge of a contract can arise through  all of the above - Kitten Inc was contractually obliged to pay $5000 to Mavitten Ltd on June 1, but failed to do so. It is now June 3. Assuming that general contractual rules apply, which of the following statements is TRUE?  Mavitten cannot discharge the contract unless it notified Kitten that the time of payment was very important - Miguel filled his shopping cart with groceries and proceeded to the cashier. The total bill came to $40. Which of the following forms of payment must the cashier accept?  twenty two-dollar coins - Sasha owed $350 to Nicole. Under the terms of their contract, he was required to pay that amount to her at her office on March 31. Which of the following statements is TRUE?  If Nicole rejects a proper tender, she can no longer insist upon receiving payment at her office - Which of the following rules applies with respect to a tender of payment  all of the above - Pavel agreed to build a yacht for Dixie. The yacht was to be delivered to Dixie on July 15 and Pavel was to be paid the total price of $100 000 on the same day. Which of the following statements is TRUE?  none of the above - A contractual party may be held liable for breaching  a subsidiary obligation under a true condition precedent - As part of a larger business plan, Ronald and Margaret devised an arrangement that would involve the shipment of widgets to the island of Abuc in the Caribbean. They are concerned, however, that their plan might violate the Trading with Enemy Islands Act, which prohibits the export of goods to certain Caribbean nations. Ronald and Margaret nevertheless want to immediately draft a document that sets up a structure for the shipment of widgets to Abuc, but that will not expose them to liability if, after seeking government approval for their plan, they learn that widgets cannot legally be sent to Abuc. As a matter of risk management, which of the following statements provides the best advice? Ronald and Margaret should insert  a condition precedent into their agreement - Wilf agreed to purchase a business from Celine. The parties' contract stated that the deal was to close on June 1, when Wilf would pay $250 000 to Celine and she would transfer the appropriate documents to him. The parties' contract also said: "This sale
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