Question 1

Which of the following is true?

Accepted Answer

A) A trustee is not the legal owner of the property that she or he is administering. 
B) A constructive trust is a relationship that exists between a trustee and beneficiary. 
C) The legal owner of trust property is the true owner of the property. 
D) A trustee is the legal owner of the property that she or he is administering. 
E) The beneficiary of a trust cannot enforce the trust in his or her favour. 
A) A trustee is not the legal owner of the property that she or he is administering. 
B) A constructive trust is a relationship that exists between a trustee and beneficiary. 
C) The legal owner of trust property is the true owner of the property. 
D) A trustee is the legal owner of the property that she or he is administering. 
E) The beneficiary of a trust cannot enforce the trust in his or her favour.

Question 2

A negotiable instrument is

Accepted Answer

A) valuable documents that can be pledged as security to another. 
B) an instrument that can be given in exchange for a promise of another. 
C) an instrument that is used in negotiations. 
D) a written promise by a party given in exchange for a promise of another. 
E) a written contract containing a promise,express or implied,to pay a specific sum of money to the order of a designated person or to bearer. 
A) valuable documents that can be pledged as security to another. 
B) an instrument that can be given in exchange for a promise of another. 
C) an instrument that is used in negotiations. 
D) a written promise by a party given in exchange for a promise of another. 
E) a written contract containing a promise,express or implied,to pay a specific sum of money to the order of a designated person or to bearer.

Question 3

A contracting party who,unknown to the other party,is represented by an agent is called

Accepted Answer

A) a secondary agent. 
B) a principal. 
C) an undisclosed principal. 
D) a collateral agent. 
E) a collateral principal. 
A) a secondary agent. 
B) a principal. 
C) an undisclosed principal. 
D) a collateral agent. 
E) a collateral principal.

Question 4

Since contracts can benefit non-parties,should the rules relating to privity of contract be changed in Ontario?

Accepted Answer

Where a contract benefits a non-party,it

Question 5

Explain the difference between negotiability and assignability.

Accepted Answer

Negotiable instruments are capable of be

Question 6

Ordinarily,a debtor/promisor must consent to an assignment.

Accepted Answer

A) True 
 B)False

Question 7

Explain how a transferee of rights under a negotiable instrument may obtain greater rights against the maker of the instrument than an assignee of contractual rights might have against the debtor/promisor under an assignment.

Accepted Answer

Under an assignment of contractual right

Question 8

Vicarious performance is a necessity in the real world.Explain.

Accepted Answer

In many contracts,the understanding is t

Question 9

When it comes to a manufacturer who negligently manufactures goods,

Accepted Answer

A) only the consumer who purchased the goods and suffered harm may sue the manufacturer. 
B) only the family members who suffer harm can sue the manufacturer. 
C) both the consumer and his or her family members who suffer harm can sue the manufacturer. 
D) the family members cannot sue the manufacturer because there is no privity between them and the manufacturer. 
E) none of the above 
A) only the consumer who purchased the goods and suffered harm may sue the manufacturer. 
B) only the family members who suffer harm can sue the manufacturer. 
C) both the consumer and his or her family members who suffer harm can sue the manufacturer. 
D) the family members cannot sue the manufacturer because there is no privity between them and the manufacturer. 
E) none of the above

Question 10

A enters into a contract with B whereby in consideration of the intended marriage of A's daughter to B's son,each of A and B will pay B's son a sum of money.A fails to pay the money and now B's son sues A.In this situation,

Accepted Answer

A) B's son will succeed because he is a party to the contract between A and B. 
B) B's son will not succeed because there is no privity between B's son and A. 
C) B's son will not succeed because an intended marriage is no consideration at all. 
D) B's son will succeed because a trust relationship was created. 
E) B's son will succeed because the consideration was the marriage of B's son to A's daughter. 
A) B's son will succeed because he is a party to the contract between A and B. 
B) B's son will not succeed because there is no privity between B's son and A. 
C) B's son will not succeed because an intended marriage is no consideration at all. 
D) B's son will succeed because a trust relationship was created. 
E) B's son will succeed because the consideration was the marriage of B's son to A's daughter.

Question 11

Generally,a contract does not confer any benefit or impose any obligations on a stranger to the contract.

Accepted Answer

A) True 
 B)False

Question 12

When can intermediate carriers successfully claim the protection of an exemption clause?

Accepted Answer

When the contract expressly st

Question 13

Liabilities may be assigned to a third party.

Accepted Answer

A) True 
 B)False

Exam 11: Privity of Contract and the Assignment of Contractual Rights

Which of the following is true?

A negotiable instrument is

A contracting party who,unknown to the other party,is represented by an agent is called

Since contracts can benefit non-parties,should the rules relating to privity of contract be changed in Ontario?

Explain the difference between negotiability and assignability.

Ordinarily,a debtor/promisor must consent to an assignment.

Explain how a transferee of rights under a negotiable instrument may obtain greater rights against the maker of the instrument than an assignee of contractual rights might have against the debtor/promisor under an assignment.

Vicarious performance is a necessity in the real world.Explain.

When it comes to a manufacturer who negligently manufactures goods,

A enters into a contract with B whereby in consideration of the intended marriage of A's daughter to B's son,each of A and B will pay B's son a sum of money.A fails to pay the money and now B's son sues A.In this situation,

Generally,a contract does not confer any benefit or impose any obligations on a stranger to the contract.

When can intermediate carriers successfully claim the protection of an exemption clause?

Liabilities may be assigned to a third party.

Law, society, and Business

The Machinery of Justice

Government Regulation of Business

The Law of Torts

Professional Liability: the Legal Challenges

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration and Intention

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Set Aside: Mistake and Misrepresentation

Writing and Interpretation

The Discharge of Contracts

Breach of Contract and Its Remedies

Sale of Goods and Consumer Contracts

Bailment and Leasing

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

Corporate Governance: the Internal Affairs of Corporations

Corporate Governance: External Responsibilities

Secured Transactions

Creditors Rights

International Business Transactions

Electronic Commerce

Privacy

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