ENGR 413 Chapters 7-12 Exam Questions With Correct Answers
2 views 0 purchase
Course
ENGR 413
Institution
ENGR 413
ENGR 413 Chapters 7-12 Exam Questions
With Correct Answers
When does a breach of contract occur? - answerWhen one of the parties fails to meet its
obligations under the contract.
What is the most common remedy for breach of contract? - answerDamages
Who intercedes when parties are unable to co...
Define Bonus Clause - answer✔additional payment for performance that exceeds minimum
requirements
What is Diminution of Value? - answer✔where the cost of rectification will be excessive
compared to the benefit rectification will bring
What is an example of Diminution of Value? - answer✔A car after a collision is worth less than
before the accident.
What is a fundamental breach of contract? - answer✔It deprives the innocent party of all or
substantially all of the benefit of the contract
What are options for the innocent party in a breach of contract? - answer✔Continue contract and
sue or terminate contract and sue
What is a simple breach of contract? - answer✔Less significant than a fundamental breach. Does
not entitle the innocent party to put an end to the contract. Does entitle the innocent party to sue
for damages
What happens when the innocent party terminates a contract over a simple breach? - answer✔If
the innocent party terminates the contract because of a simple breach, that will be a fundamental
breach by the "innocent" party
Define Repudiation - answer✔When one party, by words or actions, makes it known that it does
not intend to perform its fundamental obligations under the contract
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller sirjoel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
