Question 1

The statute of frauds serves to protect promisors from poorly written contracts.

Accepted Answer

A) True 
 B)False

Question 2

Both assignments and delegations transfer rights to a contract.

Accepted Answer

A) True 
 B)False

Question 3

Under the Uniform Commercial Code,contracts for the sale of goods totaling ________ or more must be in writing.

Accepted Answer

A) $100 
B) $200 
C) $500 
D) $250 
E) $20 
A) $100 
B) $200 
C) $500 
D) $250 
E) $20

Question 4

Although an intended beneficiary can enforce her rights to a contract,she cannot do so until her rights to the contract ________.

Accepted Answer

A) divest 
B) bifurcate 
C) perfect 
D) vest 
E) amortize 
A) divest 
B) bifurcate 
C) perfect 
D) vest 
E) amortize

Question 5

A prenuptial agreement is an agreement two parties enter into before the marriage that states the date certain on which the marriage relationship will effectively terminate.

Accepted Answer

A) True 
 B)False

Question 6

There is no federal statute of frauds.

Accepted Answer

A) True 
 B)False

Question 7

Painted House.Billy had a contract to paint Jan's house for $800 including the duty to clean up any debris.The contract between Billy and Jan did not contain an anti-assignment clause.Billy,who was very busy,assigned the contract,including the right to payment and the duty to paint,to Richard who was interested in making some extra money and had experience painting.Billy did not tell Jan about the assignment because he did not want any trouble nor did Richard mention the assignment to her.In fact,Richard never met Jan because he painted while she was at work.After Richard did a good job painting the house,Jan sent a check to Billy for $800.Billy needed the money to pay some bills,so he spent it.He thought he would have money coming in with which to pay Richard,but that did not happen.Richard asked Jan for $800 when it was not forthcoming from Billy.Jan refused.Richard said that he was going to sue her and Billy.Jan called Billy and told him that he had no right to assign the contract.Another problem involved disposal of debris.Although Richard was a good,competent painter,he forgot and left some old paint cans at Jan's house.Jan demanded that Billy come and properly dispose of the paint cans because they could not simply be put in the trash.Billy refused and told her that she would have to get Richard to dispose of the paint cans because that was his responsibility.Which of the following is true regarding Billy's claim that he had no duty to pick up the paint cans?

Accepted Answer

A) Billy is correct because he had validly delegated that duty to Richard. 
B) Billy is incorrect because the job was a personal service,and he had no right to assign either rights or duties under the contract. 
C) Billy is incorrect but only because the job was for under $1,000. 
D) Billy is correct only because Richard properly painted the house and was,therefore,responsible for ancillaries.If Richard had improperly painted the house,Billy would have had remaining duties. 
E) Billy is incorrect because his delegation did not affect his obligation to Jan. 
A) Billy is correct because he had validly delegated that duty to Richard. 
B) Billy is incorrect because the job was a personal service,and he had no right to assign either rights or duties under the contract. 
C) Billy is incorrect but only because the job was for under $1,000. 
D) Billy is correct only because Richard properly painted the house and was,therefore,responsible for ancillaries.If Richard had improperly painted the house,Billy would have had remaining duties. 
E) Billy is incorrect because his delegation did not affect his obligation to Jan.

Question 8

A(n)________ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

Accepted Answer

A) incidental 
B) creditor 
C) donee 
D) vested 
E) accidental 
A) incidental 
B) creditor 
C) donee 
D) vested 
E) accidental

Question 9

Painted House.Billy had a contract to paint Jan's house for $800 including the duty to clean up any debris.The contract between Billy and Jan did not contain an anti-assignment clause.Billy,who was very busy,assigned the contract,including the right to payment and the duty to paint,to Richard who was interested in making some extra money and had experience painting.Billy did not tell Jan about the assignment because he did not want any trouble nor did Richard mention the assignment to her.In fact,Richard never met Jan because he painted while she was at work.After Richard did a good job painting the house,Jan sent a check to Billy for $800.Billy needed the money to pay some bills,so he spent it.He thought he would have money coming in with which to pay Richard,but that did not happen.Richard asked Jan for $800 when it was not forthcoming from Billy.Jan refused.Richard said that he was going to sue her and Billy.Jan called Billy and told him that he had no right to assign the contract.Another problem involved disposal of debris.Although Richard was a good,competent painter,he forgot and left some old paint cans at Jan's house.Jan demanded that Billy come and properly dispose of the paint cans because they could not simply be put in the trash.Billy refused and told her that she would have to get Richard to dispose of the paint cans because that was his responsibility.Which of the following is true regarding Jan's statement to Richard that he had no right to delegate duties under the contract?

Accepted Answer

A) Jan is correct because a type of personal service was involved. 
B) Jan is correct because the contract did not specifically give Richard the right to assign the contract. 
C) Jan is correct,both because a type of personal service was involved and because the contract did not specifically give Richard the right to assign the contract. 
D) Jan is incorrect because the contract was not a personal service,and there was no requirement that the contract specifically reference the right to assign rights and duties. 
E) Jan is incorrect only because the contract and assignment were for an amount under $1,000.Otherwise,Richard had no right to assign the contract. 
A) Jan is correct because a type of personal service was involved. 
B) Jan is correct because the contract did not specifically give Richard the right to assign the contract. 
C) Jan is correct,both because a type of personal service was involved and because the contract did not specifically give Richard the right to assign the contract. 
D) Jan is incorrect because the contract was not a personal service,and there was no requirement that the contract specifically reference the right to assign rights and duties. 
E) Jan is incorrect only because the contract and assignment were for an amount under $1,000.Otherwise,Richard had no right to assign the contract.

Question 10

A delegation occurs when a party to a contract transfers her rights to a contract to a third party.

Accepted Answer

A) True 
 B)False

Question 11

The statute of frauds requires that both contracting parties sign the written agreement.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following parties must sign a document coming within the statute of frauds?

Accepted Answer

A) The party against whom action is sought 
B) The offeror only 
C) The offeree only 
D) Only a person who has agreed to pay the debt of another 
E) Any party to the contract 
A) The party against whom action is sought 
B) The offeror only 
C) The offeree only 
D) Only a person who has agreed to pay the debt of another 
E) Any party to the contract

Question 13

Which of the following is an incorrect statement regarding the statute of frauds and promises made in consideration of marriage?

Accepted Answer

A) Agreements regarding marriage in which one party is gaining something other than a return on his or her promise to marry are within the statute of frauds and must be in writing. 
B) Mutual promises to marry fall within the statute of frauds. 
C) Prenuptial agreements fall within the statute of frauds. 
D) A prenuptial agreement is not automatically enforceable just because it is in writing. 
E) Both that mutual promises to marry fall within the statute of frauds and that a prenuptial agreement is not automatically enforceable just because it is in writing. 
A) Agreements regarding marriage in which one party is gaining something other than a return on his or her promise to marry are within the statute of frauds and must be in writing. 
B) Mutual promises to marry fall within the statute of frauds. 
C) Prenuptial agreements fall within the statute of frauds. 
D) A prenuptial agreement is not automatically enforceable just because it is in writing. 
E) Both that mutual promises to marry fall within the statute of frauds and that a prenuptial agreement is not automatically enforceable just because it is in writing.

The statute of frauds serves to protect promisors from poorly written contracts.

Both assignments and delegations transfer rights to a contract.

Under the Uniform Commercial Code,contracts for the sale of goods totaling ________ or more must be in writing.

Although an intended beneficiary can enforce her rights to a contract,she cannot do so until her rights to the contract ________.

A prenuptial agreement is an agreement two parties enter into before the marriage that states the date certain on which the marriage relationship will effectively terminate.

There is no federal statute of frauds.

A(n)________ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

A delegation occurs when a party to a contract transfers her rights to a contract to a third party.

The statute of frauds requires that both contracting parties sign the written agreement.

Which of the following parties must sign a document coming within the statute of frauds?

Which of the following is an incorrect statement regarding the statute of frauds and promises made in consideration of marriage?

An Introduction to the Fundamentals of Dynamic Business Law

Business Ethics and Social Responsibility

The Uslegal System and Alternative Dispute Resolution

Administrative Law

Constitutional Law

Criminal Law and Business

Tort Law

Real, Personal, and Intellectual Property

Introduction to Contracts and Agreement

Consideration

Capacity and Legality

Reality of Assent

Discharge and Remedies

Formation and Performance of Sales and Lease Contracts

Sales and Lease Contracts: Performance, Warranties, and Remedies

Negotiable Instruments: Negotiability and Transferability

Holder in Due Course, Liability, and Defenses

Secured Transactions and Bankruptcy

Agency and Liability to Third Parties

Forms of Business Organization

Corporations: Formation and Organization

Securities Regulation

Employment and Discrimination Law

Consumer Law

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Exam 13: Contracts in Writing and Third-Party Contracts

The statute of frauds serves to protect promisors from poorly written contracts.

Both assignments and delegations transfer rights to a contract.

Under the Uniform Commercial Code,contracts for the sale of goods totaling ________ or more must be in writing.

Although an intended beneficiary can enforce her rights to a contract,she cannot do so until her rights to the contract ________.

A prenuptial agreement is an agreement two parties enter into before the marriage that states the date certain on which the marriage relationship will effectively terminate.

There is no federal statute of frauds.

A(n)________ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

A delegation occurs when a party to a contract transfers her rights to a contract to a third party.

The statute of frauds requires that both contracting parties sign the written agreement.

Which of the following parties must sign a document coming within the statute of frauds?

Which of the following is an incorrect statement regarding the statute of frauds and promises made in consideration of marriage?

An Introduction to the Fundamentals of Dynamic Business Law

Business Ethics and Social Responsibility

The Uslegal System and Alternative Dispute Resolution

Administrative Law

Constitutional Law

Criminal Law and Business

Tort Law

Real, Personal, and Intellectual Property

Introduction to Contracts and Agreement

Consideration

Capacity and Legality

Reality of Assent

Discharge and Remedies

Formation and Performance of Sales and Lease Contracts

Sales and Lease Contracts: Performance, Warranties, and Remedies

Negotiable Instruments: Negotiability and Transferability

Holder in Due Course, Liability, and Defenses

Secured Transactions and Bankruptcy

Agency and Liability to Third Parties

Forms of Business Organization

Corporations: Formation and Organization

Securities Regulation

Employment and Discrimination Law

Consumer Law

Filters