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Law
Q:
With regard to an assignment, the person to whom the right has been transferred is called the:
A. obligor.
B. obligee.
C. assignor.
D. assignee.
Q:
Which of the following transfers will generally be valid without the consent of the other parties?
A. The assignment by the lessee of a lease contract where rent is a percentage of sales.
B. The assignment by a purchaser of goods of the right to buy on credit without giving security.
C. The assignment by an architect of a contract to design a building.
D. The assignment by a patent holder of the right to receive royalties.
Q:
Which of the following is true of assignments?
A. Early common law recognized assignments.
B. Contract rights have always been considered transferable.
C. Article 2 of the UCC deals with assignments of rights.
D. The laws regarding assignment have gradually become stricter.
Q:
Josh acquires beneficiary rights under a contract between Sunny and James. Any modification to that contract which discharges Josh of his rights under the contract will not be enforceable by the court.
Q:
The term for an individual outside of a contract but who is envisioned to be benefited by a contract is a third-party beneficiary.
Q:
The transfer of a right under a contract is called a(n):
A. assignment.
B. delegation.
C. affidavit.
D. bilateral contract.
Q:
The appointment of another person to perform a duty under a contract is called a(n):
A. assignment.
B. delegation.
C. affidavit.
D. bilateral contract.
Q:
An incidental beneficiary of a contract cannot recover under that contract.
Q:
Deborah owes a debt to Casey. Sean contracts with Deborah to pay her debt to Casey. Casey is a creditor beneficiary of the contract between Sean and Deborah.
Q:
A donee beneficiary of a contract can recover under that contract.
Q:
Once a party properly delegates a duty to the delegatee, that party is relieved of any obligation to perform the duty.
Q:
A delegator can be discharged from his/her obligation to perform his/her duty to the original promisee by a contract of novation.
Q:
Unless specific language indicates otherwise then an assignment of a right will be interpreted to include a delegation of duty under a contract.
Q:
The power to delegate under a contract is universal right and parties may not restrict the power to delegate in the contract.
Q:
The person who receives a right under a contract has obtained a delegation.
Q:
An assignee can notify the obligor of the assignment at any point of time that he/she desires.
Q:
Under the "American rule" governing successive assignments, the first assignee in time has the superior right.
Q:
The assignor impliedly warrants to the assignee that the obligor has capacity to contract.
Q:
The transfer of a right under a contract is called assignment.
Q:
All contract rights are assignable.
Q:
Most states have passed statutes prohibiting or regulating a wage earner's assignment of future wages.
Q:
Anne induces Ben's consent to contract under duress. Anne later assigns her rights under the contract to Carl. Ben may assert the doctrine of duress against Anne as a ground for avoiding the contract.
Q:
Antiassignment clauses in contracts are not enforceable.
Q:
Rick tells Dan that Sue will inherit a mansion if she pays him back an old debt. Since Sue is unable to pay the debt, Dan offers to pay it provided that he gets the mansion from Rick. The agreement between Dan and Rick need not be in writing under the:
A. collateral contract rule.
B. parol evidence rule.
C. leading object rule.
D. part performance rule.
Q:
When the consideration given in exchange for the collateral promise is something the guarantor seeks primarily for his own benefit rather than for the benefit of the primary debtor, the contract:
A. is the opposite of an original contract.
B. is considered void.
C. is outside the statute of frauds.
D. needs to be in writing.
Q:
Mr. Green has a month to month lease for an apartment owned by Mr. Blue. The lease between Mr. Green and Mr. Blue is oral. How will the court handle the lease?
A. The court will recognize and enforce the lease.
B. The court due to the statute of frauds will not recognize or enforce the lease.
C. The court will not recognize the lease unless there is a subtenant.
D. The court will only recognize the lease if requested by the Secretary of State.
Q:
The sources of assignment law today are the common law of contracts and provisions of the UCC.
Q:
In order for an assignment to be valid, the assignee must give some consideration to the assignor.
Q:
The statute of frauds requires that:
A. some contracts be evidenced by a writing.
B. all contracts involving fraud must be void.
C. all three-party contracts be collateral ones.
D. there can be no secondary debts in a contract.
Q:
The statute of frauds was created in 1677 in what country?
A. United States of America
B. Germany
C. England
D. Russia
Q:
Under the _____, no writing is required where the guarantor makes a collateral promise for the main purpose of obtaining some personal economic advantage.
A. parol evidence rule
B. leading object rule
C. collateral contract rule
D. part performance rule
Q:
The term Parol Evidence means that outside conversations cannot be used to add or modify a completely integrated contract.
Q:
Which of the following is covered by the statute of frauds?
A. A real estate mortgage
B. A $300 contract for the sale of pencils
C. A contract that can be performed within a week
D. A $100 VCR repair
Q:
The parol evidence rule blocks evidence of subsequent agreements that modify a completely integrated written contract.
FALSE
The parol evidence rule does not forbid parties from introducing proof of subsequent agreements. This is true even if the terms of the later agreement cancel, subtract from, or add to the obligations stated in the written contract.
Q:
In general, ambiguities in a written agreement are resolved against the party who drafted the agreement.
Q:
If the parties make an agreement that is partly printed and partly handwritten, the handwritten provisions prevail over the printed provisions in case of a conflict between them.
Q:
According to the general rules of interpretation of contracts, ordinary words are given their general meanings and the technical ones are given their technical meaning.
Q:
Some courts allow promissory estoppel to bind parties to oral contracts that otherwise would be unenforceable under the statute of frauds.
Q:
Mr. Green signs a memorandum of understanding with Mr. Blue to by his widgets. Mr. Green signs the last page of the memorandum by writing his initials in cursive. A court will enforce the agreement between Mr. Green and Mr. Blue.
Q:
Article 2 of the UCC has no parol evidence rule.
Q:
Parol evidence can be used to contradict the terms of a partially integrated contract.
Q:
Parol evidence can be used to resolve ambiguities in a completely integrated written contract.
Q:
Mr. Yellow agreed to pay the debt created by Mr. Blue in his contract to Mr. Green. This agreement is called a collateral contract.
Q:
An administrator makes an oral promise to pay the debts of the deceased. The debts amount to $60,000. This oral promise is enforceable.
Q:
A mortgage does not have to be written.
Q:
In order to satisfy the writing requirement of the statute of frauds, both parties must provide the entire agreement in writing.
Q:
An oral contract within the UCC statute of frauds can be enforced without a writing only if it involves the sale of specially manufactured goods.
Q:
The statute of frauds applies exclusively to executory contracts.
Q:
The statute of frauds does not cover contracts in which marriage is the consideration.
Q:
The statute of frauds covers all contracts that are for an indefinite period of time.
Q:
Mr. Blue wishes to sell his home to Mr. Green. The court will refuse to recognize and enforce the agreement between Mr. Blue and Mr. Green.
Q:
Arnold promised to sell his car to Adams in lieu of full payment of his debt. However in the written contract, Adams had forgotten to specify which car he wants to sell. Is there any remedy?
Q:
There is a requirement that all contracts be in writing.
Q:
A signature is sufficient to form the basis of authenticity of a written contract.
Q:
Davis owes a $5 million debt to the C Bank. He also owes $2 million to Samuel. However right now, Davis is having trouble paying either loan. C Bank is willing to finance Davis's debt, but only if Samuel co-signs. Samuel, who fears that he'll get nothing on his $2 million loan if Davis doesn't get some help from the bank, is willing to do so. Thus, C Bank, Samuel and Davis complete a three-party agreement in which the bank agrees to finance the $5 million debt, Davis agrees to pay it back at a certain rate over a certain term, and Samuel agrees to pay the debt "in the event that Davis first defaults." Is this agreement covered by the statute of frauds? Why or why not?
Q:
Ned and Bill complete an oral contract for the sale of land from Ned to Bill for $100,000. Bill pays Ned the $100,000, and then begins to build his house on the land. At this point, Ned says that the deal is off and refuses to convey the deed to Bill. In doing so, Ned relies on the statute of frauds. Is this agreement enforceable by Bill?
Q:
Jones goes to a clothing store and orders $1000 worth of clothing on credit. The salesperson writes up a receipt describing the terms of the deal, but Jones does not sign anything. Three days later, the store delivers $750 worth of clothing, which Jones accepts. One day later, however, Jones decides that he doesn't want the clothing. When the store insists that he has to pay the full $1000, Jones pleads the statute of frauds. Does the statute of frauds give Jones a defense against payment here?
Q:
In entering into contracts for services, customers might be influenced by statements made by sales representatives. Businesses offering services often use standardized form contracts. Under the parol evidence rule, pre-contract statements made in these circumstances are effectively unenforceable. How can a business effectively and ethically use standardized form contracts and the parol evidence rule?
Q:
Ward is attempting to introduce oral evidence in an action relating to a written contract between Ward and Weaver. Weaver has pleaded the parol evidence rule. Ward will be prohibited from introducing parol evidence if it relates to:
A. a modification made several days after the contract was executed.
B. a change in the meaning of an unambiguous provision in the contract.
C. fraud in the inducement.
D. an obvious error in drafting.
Q:
Abel hired Carr to restore Abel's vintage car for $800. The terms of their oral agreement provided that Carr was to complete the work within 18 months. Actually, the work could be completed within one year. Can Abel insist that the work be completed within a year instead of the 18 months?
A. No, because the agreement covers services with a value in excess of $500.
B. No, because the agreement covers a time period in excess of one year.
C. Yes, because personal service contracts are exempt from the statute of frauds.
D. Yes, because the work can be completed within one year.
Q:
A written agreement was signed by two parties and it was intended to be their entire agreement. The parol evidence rule will prevent the admission of evidence that is offered to:
A. prove the existence of a contemporaneous oral agreement that modifies the contract.
B. prove the existence of a subsequent oral agreement that modifies the contract.
C. explain the meaning of an ambiguity in the written contract.
D. establish that fraud had been committed in the formation of the contract.
Q:
Subsequent agreements are treated in what way under the parol evidence rule?
A. Subsequent agreements are admissible under the parol evidence rule
B. Subsequent agreements are not admissible unless they were filed with a governmental agency
C. Subsequent agreements are not admissible since they attempt to modify an integrated contract
D. Subsequent agreements are not admissible unless that involve two international parties
Q:
A merger clause is also known as an:
A. interpretation clause.
B. interrogation clause.
C. integration clause.
D. instrumental clause.
Q:
April and Brian entered into a completely integrated written contract. Before the written contract was completed, April made an oral statement to Brian regarding the terms of the contract. This statement was not contained in the written contract. Under the parol evidence rule, evidence of April's oral statement would be admissible if it were used to:
A. create a completely new agreement.
B. introduce an ambiguous term in the written contract.
C. prove an additional term consistent with the written agreement.
D. change the terms of the written contract.
Q:
Which of the following is admissible with respect to a partially integrated contract?
A. Evidence that seeks to make the contract completely divisible.
B. Evidence that resolves ambiguities in the contract.
C. Evidence that the contract is unconditional on the happening of some event.
D. Evidence that contradicts the contract's provisions.
Q:
A fully "integrated" contract under the parol evidence rule is one that:
A. is intended by the parties to include both goods and services.
B. is intended by the parties to include several agreements.
C. is intended by the parties to be a preliminary statement of their agreement.
D. is intended by the parties to be the complete, final statement of their agreement.
Q:
Bruce told Adam that he was selling his house in Syracuse, New York. Adam sent Bruce an e-mail containing an offer of $300,000 for the house. Bruce responded via e-mail that he wanted $315,000 for the house. After further e-mails, the parties finally agreed on a sale with a price of $310,000. A series of e-mails contained the terms of the sale, and all included a salutation containing their typewritten names. However, Bruce later decided to sell the house to Marty for $325,000. Adam sued Bruce, claiming that Bruce breached their contract for the sale of the house. Most likely, Adam will:
A. lose, because the contract does not meet the statute of frauds.
B. lose under the parol evidence rule.
C. win, because the essential terms of the contract were set forth in the signed e-mails.
D. win, because of the partial performance exception to the statute of frauds.
Q:
Mr. Green and Mr. Blue contract orally to transfer 500 widgets for $1000. Mr. Blue sends Mr. Green a receipt one week after the agreement. If Mr. Green now refuses to recognize the agreement a court will find what?
A. That a memorandum of understanding was created by the receipt sent by Mr. Blue and an enforceable agreement exists
B. That no agreement exists because there is no typed agreement according to the statute of frauds
C. There is no enforceable agreement because the receipt was not sent at the same time as the agreement
D. The agreement is not enforceable because the Secretary of State did not approve the agreement
Q:
The Parol Evidence rule is relevant only in cases:
A. that are oral in nature.
B. where parties have expressed an agreement.
C. of the sale of goods.
D. subsequent modification do not have a suitable consideration.
Q:
Sammy entered into an oral contract with Macaulay for sale of goods amounting to $900. Sammy paid the amount. But Macaulay refused to deliver the goods. Sammy thus suffered serious losses because of Macaulay's breach of contract. Sammy sued Macaulay. At the same time Macaulay took the defense under statute of frauds. Under which principle is Sammy protected?
A. Tortious liability
B. Vicarious liability
C. Part performance
D. Promissory estoppel
Q:
The underlying purpose of the statute of frauds is to:
A. prevent frauds in general.
B. corroborate the existence of the oral contract.
C. punish those who commit frauds.
D. make fraud illegal.
Q:
Which of the following is a uniform state law designed to remove "barriers to electronic commerce validating and effectuating electronic records and signatures"?
A. Uniform Electronic Transactions Act (UETA)
B. Electronic Signatures in Global and National Commerce Act (E-Sign)
C. Electronic Communications Privacy Act (ECPA)
D. Graham-Leach-Bliley Act (GLBA)
Q:
The Electronic Signatures in Global and National Commerce Act (E-Sign):
A. invalidates agreements between parties conducting transactions by electronic means.
B. states that electronic transactions on subjects covered by the statute of frauds require an additional writing.
C. overrides state laws that are inconsistent with the UETA.
D. creates barriers to e-commerce by invalidating electronic records and digital signatures.
Q:
If it is not indicated in the memorandum, where should the parties sign to make it enforceable?
A. Right corner
B. Left corner
C. Bottom
D. Any place on memorandum
Q:
The Uniform Commercial Code changed the traditional statute of frauds rule by making it:
A. easier to satisfy that rule.
B. mandatory to have contracts in writing.
C. apply to service contracts only.
D. apply to real estate contracts only.
Q:
A memorandum on the sale of goods that does not indicate the _____ of goods to be sold will not satisfy the UCC's writing requirement.
A. quality
B. quantity
C. delivery
D. cost
Q:
The "confirmatory memorandum" exception to the UCC's statute of frauds provision:
A. requires that the memorandum be signed by the party to be bound.
B. requires that the memorandum be sent within ten days after the contract is made.
C. applies even though the memorandum does not satisfy the UCC's writing requirement.
D. requires that both parties to the contract be merchants.
Q:
King sent Foster, a real estate developer, a signed offer to sell a specified parcel of land to Foster for $200,000. King, an engineer, had inherited the land. Foster telephoned King the same day that he received his letter and accepted the offer. Which of the following statements concerning the contract is correct under the statute of frauds?
A. No contract was formed because Foster did not sign the offer.
B. No contract was formed because King is not a merchant.
C. A contract was formed, although it would be enforceable only against King.
D. A contract was formed but it is unenforceable.
Q:
Whose signatures are needed in order to satisfy the statute of frauds?
A. Only the signatures of witnesses to the agreement are required.
B. Only the signature of the party, attempting to enforce the contract, is required.
C. Only the signature of the party against whom enforcement is being sought.
D. Only the signature of the third party to the contract, the beneficiary, is required.
Q:
The marriage provision in the statute of frauds is inapplicable in agreements that involve:
A. post-nuptial promises.
B. oral one-sided promises of marriage.
C. mutual promises to marry.
D. pre-nuptial promises.