bl 12-14 - chapter 12 1 Third parties do not have rights...

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Sheet1 Page 1 chapter 12 1 Third parties do not have rights under contracts to which they are not parties A) True B) False Feedback: Intended beneficiaries have legal rights in contracts under which they benefi Points Earned:1.0/1.0 Correct Answer(s):False 2 The party who makes an assignment is the assignee. A) True B) False Feedback: In an assignment, the party assigning the rights is the assignor . The obligor Points Earned:1.0/1.0 Correct Answer(s):False 3 Rights under a personal service contract normally can be assigned. A) True B) False Feedback: A right under a personal service contract cannot normally be assigned. Also Points Earned:1.0/1.0 Correct Answer(s):False 4 With notice of an assignment, an assignee can compel an obligor to perform A) True B) False Points Earned:1.0/1.0 Correct Answer(s):True 5 If a delegatee fails to perform, the delegator must do so. A) True B) False Points Earned:1.0/1.0 Correct Answer(s):True 6 A promise to perform subject to obtaining financing is a condition precedent.
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Sheet1 Page 2 A) True B) False Points Earned:1.0/1.0 Correct Answer(s):True 7 Complete performance occurs when a contract& s conditions fully occur. A) True B) False Points Earned:1.0/1.0 Correct Answer(s):True 8 A material breach of contract does not excuse the nonbreaching party from A) True B) False Feedback: A material breach of contract (which occurs when performance is not at leas Points Earned:1.0/1.0 Correct Answer(s):False 9 An executory contract cannot be rescinded. A) True B) False Feedback: An executory contract can be rescinded. If it is executory on both sides, it ca Points Earned:1.0/1.0 Correct Answer(s):False 10 Objective impossibility discharges a contract. A) True B) False Points Earned:1.0/1.0 Correct Answer(s):True 1 Greg enters into a contract with Holly that indirectly benefits Ira, although ne A) a delegatee. B) an assignee. C) an incidental beneficiary. Feedback: D) an intended beneficiary. Points Earned:1.0/1.0 Correct Answer(s):C
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Sheet1 Page 3 2 Jim and Kay enter into a contract that intentionally benefits Lora. Lora± s righ A) only if she manifests assent to it. B) only if she materially alters her position in detrimental reliance on it. C) if she manifests assent to it or if she materially alters her position in detrim Feedback: D) none of these. Points Earned:1.0/1.0 Correct Answer(s):C 3 Dan and Eve sign a contract under which Dan agrees to repair Eve& s com A) a delegatee. B) an assignee. Feedback: C) an incidental beneficiary. D) an intended beneficiary. Points Earned:1.0/1.0 Correct Answer(s):B 4 Jill insures her warehouse under a policy with Kappa Insurance Company. J A) it did not consent to the assignment. B) it was not paid for the assignment. C) the assignment will materially alter its risk. Feedback: D) this is a personal service contract. Points Earned:1.0/1.0 Correct Answer(s):C 5 Nora signs a contract to provide lawn mowing services to Owen. Nora deleg A) Nora only.
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bl 12-14 - chapter 12 1 Third parties do not have rights...

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