Self Check Chapter 17 Quiz (WK5)

Self Check Chapter 17 Quiz (WK5) - Self Check Chapter 17...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Self Check Chapter 17 Quiz (WK5) 1 The beneficiary under a life insurance policy is an example of a "donee  beneficiary." A) True B) False 2 Caroline owes Petey $500. Petey transfers the right to the money to his brother  Will. This transfer of rights to Will is an "assignment." A) True B) False 3 Maureen sublet her apartment to her friend, Will. Under these circumstances,  Maureen has made a valid delegation of duties and is therefore no longer liable  on the apartment lease. A) True B) False 4 Will entered a contract for production services with Roxy, Inc. Subsequently, Will  created a corporation, Mumford, Inc. and, with Roxy's permission, substituted his  own name out of the contract and substituted Mumford, Inc.'s name in place of  his own. This constitutes a novation. A) True B) False 5 Michl named his wife, Megan the beneficiary under his life insurance policy. This  is an example of a "donee beneficiary." A) True B) False 6 Alan and Bob enter into an agreement whereby Terry will benefit from the  contract. Terry is a: A) trustee beneficiary B) assigned beneficiary C) delegated beneficiary D) third party beneficiary
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
7 Jack buys a boat on credit from Sail Away, Inc. Jack then sells the boat to Tom, 
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/08/2010 for the course MG 260DLB taught by Professor Brentgilje during the Fall '09 term at Park.

Page1 / 4

Self Check Chapter 17 Quiz (WK5) - Self Check Chapter 17...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online