Exam 8: Factors Affecting the Contractual Relationship

Performance by another qualified person of the obligations under a contract is known as ________.

Which one of the following will be excluded by the parol evidence rule?

The victim of ________ can seek monetary compensation as well as rescission for any loss incurred.

Keri went to Crandon's computer outlet with her brother Paul,who was buying a laser printer.While she was waiting for him,she saw a poster saying the store was collecting funds for a special computer for a student recently disabled in an accident.The seller induced Paul to buy the model "X" printer by stating as a fact that the printer could interface with his iMac.Paul paid $400 for the printer.Also,Keri gave $15 to the student fund after the seller confirmed he was collecting for the student's computer.Later Paul and Keri learned that neither statement was true-the printer didn't work with Paul's computer and the store was doing nothing for the student-and that the seller didn't believe that either statement was true when he made them.On these facts,which of the following is true?

It came to your attention that your great-grandmother had signed a contract pursuant to which she would be paying $5000 for an electronic organ that retails in reputable stores for $3000.Furthermore,the interest being charged is 18%,even though today's rate fell to a 20-year low.This debt is totally out of line with her pension income.It is apparent that she was misled by the door-to-door salesman who came to her place.On these facts,which of the following laws is the most likely to help her?

What is meant by the term "non est factum"?

A computer salesman innocently misrepresented a fact about a StarSystem computer to a customer.Although this fact was not about a term of the contract,it did induce the customer to buy the computer.The customer has now learned the true facts and wants to return the computer.If the store refuses to take it back,the customer would ask the court for which equitable remedy?

A real-estate agent,Jones,was owed a $17,000 commission,having sold property for Mr.Quick.Mr.Quick couldn't be found,but Jones did find his wife and learned that she had over $20,000 in treasury bills.Mr.Jones told her that if she didn't assign to him $17,000 of the $20,000,he would make sure her husband was imprisoned for his debts and "for other crimes" he knew about.If she did make an assignment in writing to Jones of the $17,000 but later tried to void the agreement,she would argue which of the following?

The longer Adolph stayed on his job,the more he hated it.He thought his boss was too demanding.He especially disliked being reprimanded for being late.One afternoon,he was asked by a secretary to take a letter to his boss for his signature.His boss had had an eye operation and was recuperating at home.Adolph got two signatures,one on the letter and one on a note promising to pay Adolph $1000 in consideration for services rendered.His boss was not careless,but couldn't read the papers.What plea or argument,if any,could his boss use to avoid paying on the promissory note?

When the courts find that undue influence is present,the resulting contract is

The victim of a fraudulent misrepresentation can also seek punitive damages,that is,damages intended to punish the wrongdoer rather than compensate the victim.

For a misrepresentation to be actionable,it must become a term of the contract.

In what way is a trust an exception to the privity rule?

Misgana ran into Tarja at their local gym.Tarja,it turns out,operated an art gallery that did custom framing and mounting.Misgana had some beautiful prints she wanted to have put into special frames and agreed to pay Tarja $400 to have this done.Tarja passed the task along to her new assistant,Shandy.Shandy used the wrong adhesive when mounting the prints,which meant they did not stick properly to the backing.Which of the following is true?

With regard to the law governing privity of contract and assignment,which of the following is true?

Undue influence takes place when one person uses violence to force another to enter into a contract.

Rules of interpretation are guidelines used by the court to correct simple misunderstandings in relation to the contract.

What does it mean that an assignee is "subject to the equities"?

Back in the days when people in Vancouver sold houses as houses and not for demolition,Mrs.Reid prepared her house for the market by contracting with Silversteps Ltd.to have her front steps replaced for the sum of $2800.Warren,an employee of the company,worked for days framing the stairs and pouring the concrete.Unfortunately,he had done the framing wrong and,in addition,the concrete mix was faulty,so all of his efforts were in vain,and the stairs were not useable.On these facts,which of the following is true?

Discuss the concept of an assignment,including an explanation of its significance in the modern business world.