Question 76-100 2023 Business & Finance

2023 76 Jana finds a home priced at 180 000 that she would like

76) Jana finds a home priced at $180,000 that she would like to buy. She is


concerned, however, about her ability to get a loan. Accordingly, she and


the seller reach agreement that Jana will buy the home if she can get a loan


for $180,000 within 45 days. What type of condition is this agreement?


a. An express condition.


b. A concurrent condition.


c. A condition precedent.


d. a and c.


e. a, b, and c.


77) When an employee breaches a fixed-term employment contract by quitting


before the end of the term, what can the employer recover as damages?


a. All amounts already paid to the employee under the contract.


b. Nothing, because courts do not order anyone to perform a job against his or


her will.


c. Only specific performance.


d. Only amounts paid to the employee for which the employee has not yet done


the work.


e. The costs of hiring a replacement employee plus any increase in salary paid


to the replacement employee.


78) The doctrine that places a duty on a non-breaching party to take reasonable


steps to reduce damages is called:


a. garnishment.


b. mitigation.


c. liquidation.


d. avoidance.


e. reciprocal duties.


79) Alice has a contract with a surgeon to have a medical procedure performed


on July 17. The surgeon notifies Alice on July 5 that he is in the Bahamas


and will be there until the end of August and will not be able to do the surgery. Which of the


following is true at this point?


a. Alice must give the surgeon 90 days in which to schedule the surgery after


July 17.


b. There will be no breach until July 17.


c. If Alice contracts with another surgeon prior to July 17, and this second surgeon is aware of Alice’s original contract, the second surgeon has no obligation to perform.


d. Alice must wait until July 17, and if the surgeon does not perform the procedure, then Alice can contract with another surgeon.


e. Alice is free to contract with another surgeon.


80) A construction contractor entered into a contract to build a family room addition onto

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