Exam 13: Third Party Rights and Discharge

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Dina and Elle agree that Elle can satisfy a preexisting debt owed to Dina by paying the money directly to Fava.The designation of this contract as a third party beneficiary contract is determined by the intent to benefit

(Multiple Choice)

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Question 21

An event must be certain to occur to constitute a contract condition.

(True/False)

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Question 22

Performance that provides a party with most of the benefits of a contract,in spite of a deviation from the terms,is complete performance.

(True/False)

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Question 23

Most contracts are discharged by rescission.

(True/False)

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Question 24

Anything less than substantial performance is a material breach of contract.

(True/False)

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Question 25

Pam borrows $5,000 from Quality Auto Sales to buy a car. When Pam does not pay the loan or return the car,Quality wants to transfers the right to the payment to Rapid Collection Agency.Rapid agrees to pay Quality for this right,but for a price that is less than the amount owed.Can Quality transfer this right to Rapid without Pam's consent? If so,and Quality committed fraud in the deal with Pam,could Pam legitimately refuse to pay Rapid? Explain.

(Essay)

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Question 26

An assignment of a negotiable instrument is generally prohibited.

(True/False)

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Question 27

An assignment of an insurance policy cannot be prohibited.

(True/False)

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Question 28

A transfer of contract rights to a third party is an assignment.

(True/False)

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Question 29

When a contract party alters a written contract,the other party must adapt his or her performance accordingly.

(True/False)

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Question 30

Jen is a third party beneficiary under a contract between Kyla and Leo.Kyla and Leo can modify or rescind their contract without Jen's consent

(Multiple Choice)

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Question 31

A right to receive damages on a breach of a contract for a sale of goods may be assigned.

(True/False)

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Question 32

Commercial Shipping,Inc.,and Dock Services Corporation enter into a contract for Dock to load Commercial's trucks for which Commercial agrees to pay Dock.Dock transfers its duty to load the trucks to East Harbor Transport Company.Dock is

(Multiple Choice)

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Question 33

Vicky contracts with Warren for the delivery of hospice services to benefit Xavier.This is

(Multiple Choice)

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Question 34

Fact Pattern 13-3 Haruko, who owns and operates Garden Orchard, agrees to sell Fresh Produce Cooperative ten bush¬els of apples. -Refer to Fact Pattern 13-3.When bad weather destroys Garden Orchard's apple crop,Haruko's obligation to deliver apples to Fresh Produce is

(Multiple Choice)

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Question 35

Superb Construction,Inc.,contracts to build a store for Tasty Confection Company,with Tasty's payment due on June 1.On June 1,Tasty's bank is closed,and for this reason,Tasty claims it cannot pay Superb on time.In this situation

(Multiple Choice)

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Question 36

A condition subsequent terminates a party's promise to perform.

(True/False)

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Question 37

Dwayne and Ewell enter into a contract for the design of an addition to Dwayne's house for which he agrees to pay Ewell.Ewell transfers his right to payment under the contract to Flex Construction Company.Flex is

(Multiple Choice)

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Question 38

Concurrent conditions occur only when the parties to a contract are required to perform their respective duties simultaneously.

(True/False)

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Question 39

The person to whom rights in a contract are assigned is the assignor.

(True/False)

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Question 40

Showing 21 - 40 of 72

Exam 13: Third Party Rights and Discharge

Dina and Elle agree that Elle can satisfy a preexisting debt owed to Dina by paying the money directly to Fava.The designation of this contract as a third party beneficiary contract is determined by the intent to benefit

An event must be certain to occur to constitute a contract condition.

Performance that provides a party with most of the benefits of a contract,in spite of a deviation from the terms,is complete performance.

Most contracts are discharged by rescission.

Anything less than substantial performance is a material breach of contract.

An assignment of a negotiable instrument is generally prohibited.

An assignment of an insurance policy cannot be prohibited.

A transfer of contract rights to a third party is an assignment.

When a contract party alters a written contract,the other party must adapt his or her performance accordingly.

Jen is a third party beneficiary under a contract between Kyla and Leo.Kyla and Leo can modify or rescind their contract without Jen's consent

A right to receive damages on a breach of a contract for a sale of goods may be assigned.

Commercial Shipping,Inc.,and Dock Services Corporation enter into a contract for Dock to load Commercial's trucks for which Commercial agrees to pay Dock.Dock transfers its duty to load the trucks to East Harbor Transport Company.Dock is

Vicky contracts with Warren for the delivery of hospice services to benefit Xavier.This is

Fact Pattern 13-3 Haruko, who owns and operates Garden Orchard, agrees to sell Fresh Produce Cooperative ten bush¬els of apples. -Refer to Fact Pattern 13-3.When bad weather destroys Garden Orchard's apple crop,Haruko's obligation to deliver apples to Fresh Produce is

Superb Construction,Inc.,contracts to build a store for Tasty Confection Company,with Tasty's payment due on June 1.On June 1,Tasty's bank is closed,and for this reason,Tasty claims it cannot pay Superb on time.In this situation

A condition subsequent terminates a party's promise to perform.

Dwayne and Ewell enter into a contract for the design of an addition to Dwayne's house for which he agrees to pay Ewell.Ewell transfers his right to payment under the contract to Flex Construction Company.Flex is

Concurrent conditions occur only when the parties to a contract are required to perform their respective duties simultaneously.

The person to whom rights in a contract are assigned is the assignor.

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