Claim arising out of breach of contract

Assignment Help Operation Management

Reference no: EM132232150

1. Either party may voluntarily renounce a right or claim arising out of a breach of contract. T/F

2. To be discharged on a contract because of commercial impracticability, an unexpected development or government action may cause the performance to become impracticable. T/F

3. The statute of frauds creates a defense for breach of executory oral contracts covered by its provisions. T/F

4. A practice that is regularly followed by businesspeople in a trade, which parties expect to follow, is considered usage of trade. T/F

5. The waiver of a right one is entitled to is a sufficient consideration in a contract. T/F

6. A written contract that the parties intend to be the final and complete statement of their agreement is said to be ______.

a) totally Integrated

b) partially integrated

c) partially Executed

d) totally executed

7. A key characteristic of a partnership is the sharing of:

a. Profits only

b. Profits and losses

c. Ownership of assets

d. Responsibility for management

Reference no: EM132232150

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