Exam 17: Third Parties Contract Rights

A(n) _____ is a new, separate agreement by the promisee to release the original promisor from liability in exchange for a third party's agreement to assume the promisor's duties.

Which of the following contracts can generally be assigned in all states in the U.S.?

A remediation is a new, separate agreement by the promisee to release the original promisor from liability in exchange for a third party's agreement to assume the promisor's duties.

Edward owes Frank $100, payable in six months. Frank, who is leaving the country, gives his rights to the payment to Marge for $80. Which of the following is true about the scenario?

Nick, a builder, contracts with the city of Chicago to build a new convention center. Jack, a hotel owner, stands to benefit once the convention center is built. Jack decides to sue Nick if Nick backs out of the contract. Which of the following statements is true of this scenario?

A creditor beneficiary has rights against the promisee, but not the promisor.

Which of the following is a correct statement regarding the assignment of contractual rights?

Lydia's father has named Lydia in his will as the inheritor of his farm. He has also named her as a beneficiary in his insurance policy. Lydia is:

A third person is a donee beneficiary if the promisee's primary purpose in contracting was to make a gift of the contracted performance to the third party.

A promisor who delegates duties is _____ if the party to whom the duties were delegated fails to satisfactorily perform them.