1. A knowing relinquishment of a legal right is called a.2. There are rarely any good reasons to waive a breach of contract. a. Trueb. False3. Normally a waiver does not extend to subsequent defective performance. Under what circumstances will a waiver in fact extend to future defective performance?a. When a pattern of conduct that waives a number of successive breaches occurs. b. When the new breach is completely unrelated to the previous breach. c. When the contract specifies that no breach can occur.4. A waiver prevents the nonbreaching party from declaring that the contract has terminated or been rescinded. a. Trueb. False5. Many contracts have provisions that limit remedies for breach to replacement, repair, or refund. a. Trueb. False6. Select the two types of contract provisions that limit remedies. a. Exculpatory clausesb. Statute of limitation clausesc. Anti-restitution clausesd. Limitation of liability clausese. Statute of Fraud clauses7. Normally a provision excluding liability for fraudulent or injury will not be enforced. A clause excluding liability for acts will not be enforced. A clause excluding acts that are to public policy will not be enforced. And clauses excluding liability for of law will not be enforced. Fill in the blanks with words that would best complete the passage.