MS Bar MS Bar Contracts 2

Question 1

The doctrine of mutual mistake allows contract rescission when:

Accepted Answer

Both parties shared an erroneous belief about a material existing fact at contracting

Answer

Mutual mistake requires that both parties share the same erroneous belief about a basic assumption of material fact that existed at the time of contracting.

Question 2

Anticipatory repudiation occurs when:

Accepted Answer

A party clearly and unequivocally states before performance is due that they will not perform

Answer

Anticipatory repudiation is a clear, unequivocal statement or conduct made before performance is due indicating that the promisor will not perform.

Question 3

Under UCC Article 2's perfect tender rule, a buyer may reject delivered goods if:

Accepted Answer

The goods fail to conform to the contract in any respect

Answer

Under UCC §2-601, a buyer may reject goods that fail to conform to the contract in any respect, even if the deviation is minor — this is stricter than common law substantial performance.

Question 4

The frustration of purpose doctrine excuses performance when:

Accepted Answer

An unforeseen event destroys the principal purpose of the contract

Answer

Frustration of purpose excuses a party's performance when an unforeseen supervening event substantially destroys the purpose for which the contract was made, even though performance remains physically possible.

Question 5

For the common law doctrine of substantial performance to excuse full performance, the performing party must show:

Accepted Answer

A good faith attempt to perform with only minor, unintentional deviations

Answer

Substantial performance requires a good faith effort to fulfill the material terms of the contract with only minor, non-willful deficiencies that do not defeat the purpose of the contract.

(MS Bar) Mississippi Bar Exam Practice Test

(MS Bar) Mississippi Bar Exam Practice Test

MS Bar MS Bar Contracts 2