Master Contract Completion: Discharge of Contracts Made Easy

Question 1

Which of the following is NOT a method of discharging a contract in English Law?

Accepted Answer

Rescission

Answer

Performance

Answer

Agreement

Answer

Frustration

Question 2

When a contract is frustrated in English Law, which of the following occurs?

Accepted Answer

The parties are excused from further performance

Answer

The contract becomes void from the beginning

Answer

The innocent party is entitled to damages

Answer

The court imposes a new contract on the parties

Question 3

A contract that is made under duress in English Law is:

Accepted Answer

Voidable

Answer

Void

Answer

Valid

Answer

Unenforceable

Question 4

A contract that is made for an illegal purpose in English Law is:

Accepted Answer

Void

Answer

Valid

Answer

Voidable

Answer

Unenforceable

Question 5

A contract that is made by a minor in English Law is:

Accepted Answer

Voidable

Answer

Valid

Answer

Void

Answer

Unenforceable

Question 6

Under what condition can a contract be discharged through performance?

Accepted Answer

When both parties have completely fulfilled their contractual obligations

Answer

When one party has partially fulfilled their contractual obligations

Answer

When the parties mutually agree to end the contract

Answer

When performance becomes impossible due to unforeseen circumstances

Question 7

Which of the following is a ground for frustration of a contract?

Accepted Answer

Impossibility of performance

Answer

Change in law

Answer

Failure of consideration

Answer

Breach of contract

Question 8

What is the primary legal effect of a breach of contract?

Accepted Answer

The innocent party can seek legal remedies.

Answer

The contract is automatically terminated.

Answer

The party in breach is released from their obligations.

Answer

The contract remains in force.

Question 9

What is the legal effect of a variation to a contract?

Accepted Answer

It modifies the original contract

Answer

It creates a new contract

Answer

It terminates the original contract

Answer

It has no legal effect

Question 10

Through which lawful means can a contract be terminated by satisfactory fulfillment of all required responsibilities?

Accepted Answer

Complete execution of all obligations

Answer

Breach of contract

Answer

Frustration

Answer

Agreement between parties

Question 11

When a situation renders fulfilling contractual commitments infeasible or impracticable, what legal mechanism allows for contract termination?

Accepted Answer

Discharge by frustration

Answer

Discharge by agreement

Answer

Breach of contract

Answer

Performance becomes void

Question 12

Within a contract, which element entails a party's willful failure to meet their contractual responsibilities?

Accepted Answer

Breach

Answer

Agreement

Answer

Consideration

Answer

Capacity

Question 13

For a contract to be legally binding, what fundamental principle must be present?

Accepted Answer

Mutual consent

Answer

Exchange of valuable items

Answer

Written agreement

Answer

Government approval

Question 14

In the event of a breach of contract, which potential legal remedy entails compelling a party to fulfill their obligations as agreed upon?

Accepted Answer

Specific performance

Answer

Damages

Answer

Injunction

Answer

Rescission

Question 15

According to which legal principle can an offer be retracted before its acceptance?

Accepted Answer

Offer and Acceptance

Answer

Consideration

Answer

Capacity

Answer

Promissory Estoppel

Question 16

Which type of contract is formed verbally without the necessity of a written agreement?

Accepted Answer

Simple contract

Answer

Formal contract

Answer

Deed

Answer

Quasi-contract

Question 17

Under which legal principle can promises made without consideration be enforced?

Accepted Answer

Equity

Answer

Contract

Answer

Tort

Answer

Statute

Question 18

Which option is NOT a method of contract assignment?

Accepted Answer

Delegation

Answer

Absolute assignment

Answer

Conditional assignment

Answer

Equitable assignment

Question 19

Which legal principle prohibits a party from profiting from their own wrongdoing in a contractual context?

Accepted Answer

Unjust enrichment

Answer

Promissory estoppel

Answer

Frustration

Answer

Unconscionability

Question 20

When a contract is discharged by performance, what happens to the obligations of both parties?

Accepted Answer

Both parties have fulfilled their obligations.

Answer

The parties must renegotiate the remaining obligations.

Answer

The parties are released from further obligations, but past obligations remain.

Answer

The contract is automatically terminated.

Question 21

What is a potential consequence for the innocent party when a contract is discharged by breach?

Accepted Answer

The innocent party may claim damages.

Answer

The innocent party is obligated to continue performing their part of the contract.

Answer

The contract is automatically reinstated.

Answer

The guilty party must fulfill the remaining obligations of the contract.

Question 22

Which of the following describes a situation where one party indicates their intention not to perform their contractual obligations before the performance date?

Accepted Answer

Repudiation

Answer

Minor breach

Answer

Partial breach

Answer

Actual breach

Question 23

What is the main consequence of a material breach of contract?

Accepted Answer

The innocent party has the right to terminate the contract.

Answer

The innocent party must continue performing their obligations.

Answer

The contract remains in effect, but the innocent party can claim damages.

Answer

The guilty party must perform the remaining obligations of the contract.

Question 24

What is the primary purpose of a liquidated damages clause in a contract?

Accepted Answer

To specify the amount of damages payable in case of a breach, agreed upon beforehand.

Answer

To allow the guilty party to avoid any financial liability for a breach.

Answer

To prevent the innocent party from seeking any other remedies.

Answer

To ensure the contract is always enforceable, even in the case of a breach.

Question 25

When a contract is discharged by agreement, how is the termination of the contract achieved?

Accepted Answer

The parties mutually agree to end the contractual obligations.

Answer

The contract is automatically terminated due to unforeseen circumstances.

Answer

A court orders the parties to terminate the contract.

Answer

The contract is terminated due to a breach by one of the parties.