Chapter-16-West-s-Business-Law-test-bank-questions[1]

Chapter-16-West-s-Business-Law-test-bank-questions[1] -...

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Chapter 16 Third Party Rights TRUE/FALSE QUESTIONS A1. A transfer of contract rights to a third party is an assignment. ANSWER: T PAGE: 321 TYPE: N NAT: AACSB Analytic AICPA Legal B1. A transfer of contract rights to a third party is an obligator. ANSWER: F PAGE: 321 TYPE: N NAT: AACSB Reflective AICPA Legal A2. Privity of contract is the principle under which contracting parties alone  traditionally had rights and liabilities under their contract. ANSWER: T PAGE: 321 TYPE: N NAT: AACSB Reflective AICPA Legal B2. Privity of contract refers to the privacy that contracting parties should  maintain with respect to their contract. ANSWER: F PAGE: 321 TYPE: N NAT: AACSB Analytic AICPA Legal A3. The person to whom rights in a contract are assigned is the assignor. ANSWER: F PAGE: 321 TYPE: N NAT: AACSB Analytic AICPA Legal B3. The person to whom rights in a contract are assigned is the assignee. 157
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158           TEST BANK A:  UNIT THREE:  CONTRACTS AND E-CONTRACTS ANSWER: F PAGE: 321 TYPE: N NAT: AACSB Analytic AICPA Legal A4. Oral assignments are prohibited. ANSWER: F PAGE: 322 TYPE: N NAT: AACSB Analytic AICPA Legal B4. An assignee can compel the obligor to perform. ANSWER: T PAGE: 322 TYPE: = NAT: AACSB Analytic AICPA Legal A5. The rights under a contract for personal service normally can be assigned. ANSWER: F PAGE: 324 TYPE: = NAT: AACSB Reflective AICPA Legal B5. An unconditional assignment of rights in a contract will extinguish the  rights of the assignor. ANSWER: T PAGE: 322 TYPE: = NAT: AACSB Analytic AICPA Legal A6. A right to receive damages on a breach of a contract for a sale of goods may  be assigned. ANSWER: T PAGE: 325 TYPE: N NAT: AACSB Reflective AICPA Legal B6. To be enforceable, any assignment must be in writing. ANSWER: F PAGE: 322 TYPE: N NAT: AACSB Reflective AICPA Legal A7. Alienation is a transfer of the ownership of land. ANSWER: T PAGE: 325 TYPE: N NAT: AACSB Reflective AICPA Legal B7. An assignment of an insurance policy cannot be prohibited.
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CHAPTER 16:  THIRD PARTY RIGHTS           159 ANSWER: F PAGE: 324 TYPE: = NAT: AACSB Reflective AICPA Legal A8. An assignment is effective only after notice is given to the obligor. ANSWER: F PAGE: 325 TYPE: = NAT: AACSB Analytic AICPA Legal B8. An assignment of a negotiable instrument is generally prohibited. ANSWER: F PAGE: 325 TYPE: = NAT: AACSB Analytic AICPA Legal A9. Generally, a party may  not  delegate his or her duties under a contract. ANSWER:
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This note was uploaded on 11/12/2010 for the course BUS 45860 taught by Professor Pardee during the Fall '09 term at Riverside Community College.

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Chapter-16-West-s-Business-Law-test-bank-questions[1] -...

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