Exam 16: B: Third Party Rights

An assignment is effective immediately,whether or not notice is given.

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(True/False)

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Question 1

Correct Answer:

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True

A contract between Drill-Bit Sharpeners,Inc. ,and East Oil Mining Corporation contains a clause stating that any assignment is "void." This ordinarily prohibits

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(Multiple Choice)

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Question 2

Correct Answer:

Verified

George promises to repair Ford's boat dock in exchange for Efrem's promise to plant trees on George's property.This is

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(Multiple Choice)

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Question 3

Correct Answer:

Verified

A creditor beneficiary can sue the promisor directly for breach.

(True/False)

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Question 4

The assignment of the same contract right to two different parties automatically cancels both assignments.

(True/False)

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Question 5

If a statute prohibits the assignment of certain rights,those rights cannot be assigned.

(True/False)

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Question 6

Ron makes a contract with Stu that indirectly benefits Tim,although nei?ther Ron nor Stu intended that result.Tim is

(Multiple Choice)

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Question 7

An assignment of a negotiable instrument is generally prohibited.

(True/False)

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Question 8

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 9

A transfer of contract rights to a third party is a delegation.

(True/False)

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Question 10

A life insurance contract is a third party benefi?ciary contract involving a donee beneficiary.

(True/False)

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Question 11

A "donee" beneficiary is a type of an "incidental" beneficiary.

(True/False)

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Question 12

Bret and Cory enter into a contract for the sale of Bret's textbook at the end of the fall semester for which Cory agrees to pay Bret $60.Cory wants to transfer her right to payment for the book to Del.This transfer

(Multiple Choice)

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Question 13

Both intended and incidental beneficiaries acquire legal rights in a contract.

(True/False)

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Question 14

Fact Pattern 16-B1 Bayside Construction Company enters into a contract with Clio to remodel Dewey's Home Store,using products from Eagle Building Supplies.Fresh Food Café is next to Dewey's Home Store. -Refer to Fact Pattern 16-B1.The value of Fresh Food's property will increase after Dewey's store is remodeled.Fresh Food is

(Multiple Choice)

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Question 15

Privity of contract refers to the fact that traditionally contracting parties alone have rights and liabilities under their contract.

(True/False)

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Question 16

An assignee's rights are subject to the defenses that the obligor has against the assignor.

(True/False)

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Question 17

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

(True/False)

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Question 18

To be enforceable,any assignment covered by the Statute of Frauds must be in writing.

(True/False)

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Question 19

Fact Pattern 16-B1 Bayside Construction Company enters into a contract with Clio to remodel Dewey's Home Store,using products from Eagle Building Supplies.Fresh Food Café is next to Dewey's Home Store. -Refer to Fact Pattern 16-B1.Halfway through the project,Bayside refuses to finish the job.The contract can be enforced against Bayside by

(Multiple Choice)

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Question 20

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Exam 16: B: Third Party Rights

An assignment is effective immediately,whether or not notice is given.

A contract between Drill-Bit Sharpeners,Inc. ,and East Oil Mining Corporation contains a clause stating that any assignment is "void." This ordinarily prohibits

George promises to repair Ford's boat dock in exchange for Efrem's promise to plant trees on George's property.This is

A creditor beneficiary can sue the promisor directly for breach.

The assignment of the same contract right to two different parties automatically cancels both assignments.

If a statute prohibits the assignment of certain rights,those rights cannot be assigned.

Ron makes a contract with Stu that indirectly benefits Tim,although nei?ther Ron nor Stu intended that result.Tim is

An assignment of a negotiable instrument is generally prohibited.

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 transfer of contract rights to a third party is a delegation.

A life insurance contract is a third party benefi?ciary contract involving a donee beneficiary.

A "donee" beneficiary is a type of an "incidental" beneficiary.

Bret and Cory enter into a contract for the sale of Bret's textbook at the end of the fall semester for which Cory agrees to pay Bret $60.Cory wants to transfer her right to payment for the book to Del.This transfer

Both intended and incidental beneficiaries acquire legal rights in a contract.

Privity of contract refers to the fact that traditionally contracting parties alone have rights and liabilities under their contract.

An assignee's rights are subject to the defenses that the obligor has against the assignor.

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

To be enforceable,any assignment covered by the Statute of Frauds must be in writing.

A: Introduction to Law and Legal Reasoning

B: Introduction to Law and Legal Reasoning

C: Introduction to Law and Legal Reasoning

D: Introduction to Law and Legal Reasoning

A: Courts and Alternative Dispute Resolution

B: Courts and Alternative Dispute Resolution

A: Court Procedures

B: Court Procedures

A: Constitutional Authority to Regulate Business

B: Constitutional Authority to Regulate Business

A: Ethics and Business Decision Making

B: Ethics and Business Decision Making

A: Intentional Torts and Privacy

B: Intentional Torts and Privacy

A: Negligence and Strict Liability

B: Negligence and Strict Liability

C: Negligence and Strict Liability

D: Negligence and Strict Liability

A: Intellectual Property and Internet Law

B: Intellectual Property and Internet Law

A: Criminal Law and Cyber Crimes

B: Criminal Law and Cyber Crime

A: Nature and Terminology

B: Nature and Terminology

C: Nature and Terminology

D: Nature and Terminology

A: Agreement in Traditional and E-Contracts

B: Agreement in Traditional and E-Contracts

A: Consideration

B: Consideration

A: Capacity and Legality

B: Capacity and Legality

A: Mistakes,fraud,and Voluntary Consent

B: Mistakes,fraud,and Voluntary Consent

A: The Statute of Frauds

B: The Statute of Frauds

A: Third Party Rights

A: Performance and Discharge

B: Performance and Discharge

A: Breach of Contract and Remedies

B: Breach of Contract and Remedies

A: The Formation of Sales and Lease Contracts

B: The Formation of Sales and Lease Contracts

C: The Formation of Sales and Lease Contracts

D: The Formation of Sales and Lease Contracts

A: Title,risk,and Insurable Interest

B: Title,risk,and Insurable Interest

A: Performance Breach of Sales Lease Contracts

B: Performance Breach of Sales Lease Contracts

A: Warranties and Product Liability

B: Warranties and Product Liability

A: International Law in a Global Economy

B: International Law in a Global Economy

A: The Function Creation of Negotiable Instruments

B: The Function Creation of Negotiable Instruments

C: The Function Creation of Negotiable Instruments

D: The Function Creation of Negotiable Instruments

A: Transferability and Holder in Due Course

B: Transferability and Holder in Due Course

A: Liability,defenses,and Discharge

B: Liability,defenses,and Discharge