Statements is true of breach of contract

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Reference no: EM132233714

1. With regard to the fraud element of intent, which of the following is NOT true?

a. An insufficient knowledge of the truth may satisfy the scienter requirement.

b. This requirement is satisfied if the person making the representation makes a mistake, so the best practice is not to make any representations at all.

c. The person making the misrepresentation must have known of its falsity.

d. This requirement is known as "scienter."

2. Which of the following statements is true of a breach of contract?

a. Inferior performance constitutes a minor breach of contract.

b. Strict performance by a party discharges that party's duties under the contract.

c. Substantial performance constitutes a material breach.

d. The most common remedy for a breach of contract is an award of equitable remedies.

3. The doctrine of ________ allows the court to order an oral contract for the sale of land or transfer of another interest in real property to be specifically performed if it has been partially performed and performance is necessary to avoid injustice.

a. equitable performance

b. undue performance

c. promissory estoppel

d. part performance

4. The performance of an accord is called:

a. novation

b. satisfaction

c. rescission

d. performance

Reference no: EM132233714

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