CHAPTER_17_THIRD_PARTIES.docx

CHAPTER_17_THIRD_PARTIES.docx - 1 An assignment is valid...

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1. An assignment is valid from the moment it is made, regardless of whether the assignor notifies the obligor. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2. A party may make either an assignment or a delegation, but cannot make both an assignment and a delegation simultaneously. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 3. Most, but not all, contract rights are assignable. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension 4. Most types of duties may be delegated. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 5. Assignment is prohibited when the obligor is agreeing to perform personal services. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 6. If Casey assigns her rights to receive income from rental property to Errol, then Errol will legally acquire any rights to
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the income held by Casey. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Moderation KEYWORDS: Bloom's: Comprehension 7. Char-Glo Industries contracted with Evergreen Lawn Service to mow and trim the company’s lawn. In the contract, Char-Glo included a clause prohibiting Evergreen from delegating its duties. Courts will ordinarily not enforce such a clause. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension 8. Claims for personal injury are generally assignable. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 9. If Ray agrees to rake leaves for Michelle in exchange for Michelle's promise to pay off the debt Ray owes to Dean, then Dean is a donee beneficiary of the agreement between Ray and Michelle. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Application 10. If Valley Bridge contracts with Rainbow Painters to paint a bridge and the contract requires that only Sherwin Williams paint be used, then Sherwin Williams, as third party beneficiary will be able to enforce the contract against either Valley Bridge or Rainbow Painters. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Moderate
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KEYWORDS: Bloom's: Application 11. Norm and Frank have a legal contract that is silent with regard to an assignment of the contract. In order for Norm to assign all or part of his rights under a contract, Frank must grant such permission to Norm. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Moderation KEYWORDS: Bloom's: Comprehension 12. Contract prohibitions against assignments are invalid as a matter of public policy. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension 13. If Velma, as a birthday present, assigns to Jim her contractual right to collect $50 from Wood Co., this would be a gratuitous assignment.
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