Contract provisions that are enforceable independently are referred to as a. cov

ID: 442254 • Letter: C

Question

Contract provisions that are enforceable independently are referred to as

a. covenantal promises.

b. conditional promises.

c. material promises.

d. reciprocal promises.

Article 9 of the UCC governs secured transactions in personal property.

True

False

Statements of fact about the past and present are called

a. representations and warranties.

b. promises and covenants.

c. provisions and terms.

d. damages and remedies.

The element of a contract that states the parties must be adults of sound mind is consent.

True

False

There are three parties on a promissory note: the maker, the drawee, and the payee.

True

False

When one party to a contract fails to perform as promised, it is called

a. breach.

b. litigation.

c. bad faith.

d. liquidated damages.

1. option A is correct. the remaining 3 carries different meanings and used at different contexts.

2. True

3. option D is correct

4. true. only sound mind people eligible to make any contract

5. false. there are only two parties involves in a promissory note, named as payee, and the other is issuer

6. option A is correct. the inabilty or inefficiency of either party is called breach of contract.

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