Exam 11: Third Party Rights and Discharge

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Rachel and Stuart enter into a contract for the sale of Rachel's textbook at the end of the fall semester for which Stuart agrees to pay $75. Rachel's transfer of her right to payment for the book to Terry is

(Multiple Choice)

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Question 61

All rights can be assigned with no exceptions.

(True/False)

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Question 62

In most cases, a contract that prohibits its assignment cannot be assigned.

(True/False)

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Question 63

Mai is a third party beneficiary under a contract between Novia and Opie. Novia and Opie can modify or rescind their contract without Mai's consent

(Multiple Choice)

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Question 64

A right cannot be assigned if the assignment will significantly alter the risks or duties of the obligor.

(True/False)

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Question 65

Construction LLC agrees to build a store for Discount Retail, Inc., at a specific location. Before the work begins, the local zoning law is changed to prohibit commercial buildings at that location. In this situation

(Multiple Choice)

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Question 66

Fact Pattern 11-1 Medical Accounts Collection enters into a contract to employ Natalie as a billing and credit manager for two years. During the first year, Natalie is often absent without explanation and when present fails to adequately do her job. -Refer to Fact Pattern 11-1. Natalie's performance most likely

(Multiple Choice)

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Question 67

A novation requires the existence of a previous, valid obligation.

(True/False)

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Question 68

Quality Scrap Company contracts to provide ten tons of steel at $500 per ton to Rendered Materials, Inc. An unforeseen shortage occurs suddenly, making it impossible for Quality to fulfill the contract for less than $5,000 per ton. The firm's best defense against performing the contract is that

(Multiple Choice)

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Question 69

Steel, Inc., and Transport Company enter into a contract. UniOil Corporation, which will indirectly benefit from the deal, is prevented from having rights under the contract by the principle of

(Multiple Choice)

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Question 70

Gavin takes out an insurance policy on her car. Gavin can assign his policy to a third party

(Multiple Choice)

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(85)

Question 71

A special form is required to create a delegation of duties.

(True/False)

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(75)

Question 72

Showing 61 - 72 of 72

Rachel and Stuart enter into a contract for the sale of Rachel's textbook at the end of the fall semester for which Stuart agrees to pay $75. Rachel's transfer of her right to payment for the book to Terry is

All rights can be assigned with no exceptions.

In most cases, a contract that prohibits its assignment cannot be assigned.

Mai is a third party beneficiary under a contract between Novia and Opie. Novia and Opie can modify or rescind their contract without Mai's consent

A right cannot be assigned if the assignment will significantly alter the risks or duties of the obligor.

Construction LLC agrees to build a store for Discount Retail, Inc., at a specific location. Before the work begins, the local zoning law is changed to prohibit commercial buildings at that location. In this situation

A novation requires the existence of a previous, valid obligation.

Quality Scrap Company contracts to provide ten tons of steel at $500 per ton to Rendered Materials, Inc. An unforeseen shortage occurs suddenly, making it impossible for Quality to fulfill the contract for less than $5,000 per ton. The firm's best defense against performing the contract is that

Steel, Inc., and Transport Company enter into a contract. UniOil Corporation, which will indirectly benefit from the deal, is prevented from having rights under the contract by the principle of

Gavin takes out an insurance policy on her car. Gavin can assign his policy to a third party

A special form is required to create a delegation of duties.

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Nature and Terminology

Agreement in Traditional and E-Contracts

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Performance, Breach, and Warranties of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

Exam 11: Third Party Rights and Discharge

Rachel and Stuart enter into a contract for the sale of Rachel's textbook at the end of the fall semester for which Stuart agrees to pay $75. Rachel's transfer of her right to payment for the book to Terry is​

All rights can be assigned with no exceptions.​

In most cases, a contract that prohibits its assignment cannot be assigned.​

Mai is a third party beneficiary under a contract between Novia and Opie. Novia and Opie can modify or rescind their contract without Mai's consent​

A right cannot be assigned if the assignment will significantly alter the risks or duties of the obligor.​

Construction LLC agrees to build a store for Discount Retail, Inc., at a specific location. Before the work begins, the local zoning law is changed to prohibit commercial buildings at that location. In this situation​

A novation requires the existence of a previous, valid obligation.​

Quality Scrap Company contracts to provide ten tons of steel at $500 per ton to Rendered Materials, Inc. An unforeseen shortage occurs suddenly, making it impossible for Quality to fulfill the contract for less than $5,000 per ton. The firm's best defense against performing the contract is that​

Steel, Inc., and Transport Company enter into a contract. UniOil Corporation, which will indirectly benefit from the deal, is prevented from having rights under the contract by the principle of​

Gavin takes out an insurance policy on her car. Gavin can assign his policy to a third party​

A special form is required to create a delegation of duties.​

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Nature and Terminology

Agreement in Traditional and E-Contracts

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Performance, Breach, and Warranties of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

Rachel and Stuart enter into a contract for the sale of Rachel's textbook at the end of the fall semester for which Stuart agrees to pay $75. Rachel's transfer of her right to payment for the book to Terry is

All rights can be assigned with no exceptions.

In most cases, a contract that prohibits its assignment cannot be assigned.

Mai is a third party beneficiary under a contract between Novia and Opie. Novia and Opie can modify or rescind their contract without Mai's consent

A right cannot be assigned if the assignment will significantly alter the risks or duties of the obligor.

Construction LLC agrees to build a store for Discount Retail, Inc., at a specific location. Before the work begins, the local zoning law is changed to prohibit commercial buildings at that location. In this situation

A novation requires the existence of a previous, valid obligation.

Quality Scrap Company contracts to provide ten tons of steel at $500 per ton to Rendered Materials, Inc. An unforeseen shortage occurs suddenly, making it impossible for Quality to fulfill the contract for less than $5,000 per ton. The firm's best defense against performing the contract is that

Steel, Inc., and Transport Company enter into a contract. UniOil Corporation, which will indirectly benefit from the deal, is prevented from having rights under the contract by the principle of

Gavin takes out an insurance policy on her car. Gavin can assign his policy to a third party

A special form is required to create a delegation of duties.