1 | P a g e | © copyright 2026/2027 Grade A+
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LSB 3213 Exam 4 Questions and
Correct Verified Answers Latest
Version
A condition precedent must be met before a party's performance can be
required.
✓ True
A party normally satisfies its duties under a contract by novation.
✓ False
Complete performance occurs when conditions in a contract are
✓ fully satisfied.
Performance that provides a party with most of the benefits of a contract, in
spite of a deviation from the terms, is
✓ substantial performance.
An intention variation from a contract prevents substantial performance.
✓ False
Master01 | September, 2026/2027 Latest update
|
, 1 | P a g e | © copyright 2026/2027 Grade A+
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Anything less than complete performance is a material breach of contract.
✓ False
Any breach allows the nonbreaching party to cancel the contract.
✓ False
After a contract is made, a supervening event may make performance
✓ impossible and discharge the contract.
City Restoration Corporation substantially performs its contract with Downtown
Apartments, Inc. Downtown is entitled to
✓ damages.
Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train
depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes
most of the work promised in the contract, its performance will be
✓ substantial.
Super Toolmakers, Inc., contracts to sell its business to True Hardware
Corporation. Before either party has performed, rescission of this contract
requires
Master01 | September, 2026/2027 Latest update
|
, 1 | P a g e | © copyright 2026/2027 Grade A+
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✓ a mutual agreement to rescind.
Mona and Nero want to discharge their contract by executing and
performing a new agreement. They can best accomplish this by
✓ accord and satisfaction.
The assignment of same contract right to two different parties result in their
"splitting the difference."
✓ False
Musical Production Company and Nora enter into a contract for Nora to write
six songd for which Musical agrees to pay her. Nora transfers her right to
payment under the contract to Omni Entertainment Agency. Nora is
✓ an assignor
An incidental benificiary is not entitled to enforce the promise of a promisor.
✓ True
Reba and Sly enter into a contract by which Reba promises to deliver newly
printed marketing brochures to Sly. Reba later transfers her duty under the
contract to Troy. Reba is
Master01 | September, 2026/2027 Latest update
|
|
LSB 3213 Exam 4 Questions and
Correct Verified Answers Latest
Version
A condition precedent must be met before a party's performance can be
required.
✓ True
A party normally satisfies its duties under a contract by novation.
✓ False
Complete performance occurs when conditions in a contract are
✓ fully satisfied.
Performance that provides a party with most of the benefits of a contract, in
spite of a deviation from the terms, is
✓ substantial performance.
An intention variation from a contract prevents substantial performance.
✓ False
Master01 | September, 2026/2027 Latest update
|
, 1 | P a g e | © copyright 2026/2027 Grade A+
|
Anything less than complete performance is a material breach of contract.
✓ False
Any breach allows the nonbreaching party to cancel the contract.
✓ False
After a contract is made, a supervening event may make performance
✓ impossible and discharge the contract.
City Restoration Corporation substantially performs its contract with Downtown
Apartments, Inc. Downtown is entitled to
✓ damages.
Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train
depot for Casual Dining, Inc., to open as Eat Up Restaurant. If BRI completes
most of the work promised in the contract, its performance will be
✓ substantial.
Super Toolmakers, Inc., contracts to sell its business to True Hardware
Corporation. Before either party has performed, rescission of this contract
requires
Master01 | September, 2026/2027 Latest update
|
, 1 | P a g e | © copyright 2026/2027 Grade A+
|
✓ a mutual agreement to rescind.
Mona and Nero want to discharge their contract by executing and
performing a new agreement. They can best accomplish this by
✓ accord and satisfaction.
The assignment of same contract right to two different parties result in their
"splitting the difference."
✓ False
Musical Production Company and Nora enter into a contract for Nora to write
six songd for which Musical agrees to pay her. Nora transfers her right to
payment under the contract to Omni Entertainment Agency. Nora is
✓ an assignor
An incidental benificiary is not entitled to enforce the promise of a promisor.
✓ True
Reba and Sly enter into a contract by which Reba promises to deliver newly
printed marketing brochures to Sly. Reba later transfers her duty under the
contract to Troy. Reba is
Master01 | September, 2026/2027 Latest update
|
