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

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A debtor/promisor who continues to make payments to his original creditor after receiving notice of an assignment will not be required to pay the amount a second time.

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(True/False)

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Question 1

Correct Answer:

Verified

False

A Company contracts to build a house for B,and the contract expressly states that the contractor may from time to time use the services of subcontractors.In the course of performing the contract,one of the subcontractors negligently builds a wall,which falls over,destroying B's car.In this situation

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Question 2

Correct Answer:

Verified

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

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Question 3

Correct Answer:

Verified

Who is an assignor?

(Essay)

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Question 4

Explain the difference between negotiability and assignability.

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Question 5

Which of the following is NOT a trust arrangement?

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Question 6

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

(Essay)

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Question 7

The general rule is that a contract does NOT give any benefits to or impose any obligations on which of the following

(Multiple Choice)

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Question 8

An undisclosed principal is a contracting party who unknown to the other party is represented by an agent.

(True/False)

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Question 9

The legal owner of trust property is the true owner of the property.

(True/False)

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Question 10

A negotiable instrument is

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Question 11

An exemption clause is a provision in a contract that limits the liability of a party.

(True/False)

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Question 12

A receiving order is used in

(Multiple Choice)

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Question 13

An unscrupulous creditor might sell the right to collect the same debt to two different persons by assigning it to each of them.Which one of the two innocent assignees is entitled to payment and why?

(Essay)

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Question 14

The rule regarding privity can be overcome by a finding of a collateral contract entered into by the same parties.

(True/False)

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Question 15

The right to intangible property is known as

(Multiple Choice)

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Question 16

Explain the phrase "an assignee takes subject to equities."

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Question 17

The effect of the doctrine of privity of contract is that

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Question 18

Mary wants to be able to take care of her sons when she is away.She decides to give an amount of money to a friend,Melanie,with the instructions that she is to use that money to care for the children when she is away.Melanie is called a and the children are called .

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Question 19

The effect of the doctrine of privity of contract is that a unilateral contract is unenforceable against the promisee.

(True/False)

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Question 20

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

A debtor/promisor who continues to make payments to his original creditor after receiving notice of an assignment will not be required to pay the amount a second time.

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

Who is an assignor?

Explain the difference between negotiability and assignability.

Which of the following is NOT a trust arrangement?

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

The general rule is that a contract does NOT give any benefits to or impose any obligations on which of the following

An undisclosed principal is a contracting party who unknown to the other party is represented by an agent.

The legal owner of trust property is the true owner of the property.

A negotiable instrument is

An exemption clause is a provision in a contract that limits the liability of a party.

A receiving order is used in

An unscrupulous creditor might sell the right to collect the same debt to two different persons by assigning it to each of them.Which one of the two innocent assignees is entitled to payment and why?

The rule regarding privity can be overcome by a finding of a collateral contract entered into by the same parties.

The right to intangible property is known as

Explain the phrase "an assignee takes subject to equities."

The effect of the doctrine of privity of contract is that

Mary wants to be able to take care of her sons when she is away.She decides to give an amount of money to a friend,Melanie,with the instructions that she is to use that money to care for the children when she is away.Melanie is called a ________ and the children are called ________.

The effect of the doctrine of privity of contract is that a unilateral contract is unenforceable against the promisee.

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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Mary wants to be able to take care of her sons when she is away.She decides to give an amount of money to a friend,Melanie,with the instructions that she is to use that money to care for the children when she is away.Melanie is called a and the children are called .