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1-Chang attempted to pay Robinson the $500 he owed him by tendering payment in legal tender at the proper time and place, but Robinson refused to
1-Chang attempted to pay Robinson the $500 he owed him by tendering payment in legal tender at the proper time and place, but Robinson refused to accept payment then. Which of the following is true?
a.The money is no longer owed.
b.Chang can just wait for Robinson to collect the debt.
c.Robinson can sue on the basis of quantum meruit.
d.Chang must pay interest at a "reasonable rate" from the date of his attempt to pay.
e.Chang can sue Robinson successfully for rescission of the contract.
2-When one party to a contract, either through words or conduct, indicates to the other party that he or she will not perform a future obligation under the contract, which of the following is true at the time such communication is received? (Select the best answer.)
a.The innocent party may immediately consider the contract as terminated, consider herself absolved from any future obligations and take steps to recover losses suffered as a result of the future breach.
b.The innocent party may ignore the communication and insist on continued performance.
c.The innocent party may not do anything outside the contract as the time for completion of an obligation must pass before the innocent party can take action for breach.
d.If the innocent party elects to insist on continued performance, he is immediately relieved from any future reciprocal obligations under the contract.
e.A and B above.
