Contracts Flashcards
6 cards from real FL BAR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Contracts flashcards as text
The parol evidence rule prevents introduction of prior or contemporaneous oral agreements that:
Answer: Contradict the terms of a fully integrated written contract
The parol evidence rule bars extrinsic evidence offered to contradict or vary the terms of a final, integrated written agreement.
Which measure of damages is designed to give the non-breaching party the full benefit of their bargain?
Answer: Expectation damages
Expectation damages are intended to put the non-breaching party in the same position they would have been in had the contract been fully performed.
Under Florida law, contracts for which of the following must be in writing to be enforceable?
Answer: Agreements to pay another's debt
Florida's Statute of Frauds, § 725.01, requires contracts to answer for the debt of another (suretyship) to be in writing and signed.
A contractor promises to build a house by June 1st. The owner's duty to pay is an example of:
Answer: A concurrent condition
Concurrent conditions exist when each party's performance is conditioned on the other's simultaneous performance, as when payment and delivery are due at the same time.
A novation differs from an assignment because a novation:
Answer: Substitutes a new party and extinguishes the original party's liability
A novation substitutes a new party for an original party with the obligee's consent, completely releasing the original obligor from liability.
Under the doctrine of substantial performance, a breaching party may recover the contract price minus:
Answer: The cost to cure the deficiency
Substantial performance allows the breaching party to recover the contract price diminished by the cost of remedying the deficiency caused by the breach.