Question 1

Which of the following is a type of intended beneficiary?

Accepted Answer

A)   Creditor
B)   Donee
C)   Incidental
D)   Creditor, donee, and incidental
E)   Creditor and donee, but not incidentalF) A) and E)
G) D) and E)

Question 2

The ___________ rule is a common law rule that addresses the admissibility of oral evidence as it relates to written contracts.

Accepted Answer

A)   Oral admissibility
B)   Oral evidence rule
C)   Parol evidence rule
D)   Frauds evidence rule
E)   Deficient evidence ruleF) A) and B)
G) B) and E)

Question 3

Which of the following is true regarding the rights of an incidental beneficiary to a contract to sue to recover incidental rights?

Accepted Answer

A)   An incidental beneficiary may sue to enforce incidental contractual rights so long as those rights have vested.
B)   An incidental beneficiary may sue to enforce incidental contractual rights only if the incidental beneficiary is also a creditor beneficiary.
C)   An incidental beneficiary may sue to enforce incidental contractual rights only if the incidental beneficiary is also a donee beneficiary.
D)   An incidental beneficiary may sue to enforce incidental contractual rights only if the incidental beneficiary is also a second-party beneficiary.
E)   An incidental beneficiary cannot sue to enforce a contract which provided incidental benefits.F) A) and D)
G) A) and E)

Question 4

Define the term "admission" in relation to contracts under the statute of frauds. Discuss the pros and cons of the rule on admissions, and whether you think courts should recognize admissions.

Accepted Answer

An admission is a statement made in cour...

Question 5

Reference - Third-Party Woes. Trudy owed Sam $40 for a book she purchased from him. Trudy mowed Betty's yard for $40 and agreed with Betty that Betty would pay Sam for the book. Sam is not initially aware of the agreement. Betty pays no one. Trudy also mowed Bob's yard for $40 in return for Bob's agreement to give the payment to Sally representing Trudy's birthday present to Sally. Bob later refuses to do so saying that promises to give gifts are not enforceable. He then moves out of town. Trudy tells both Sam and Sally that she is broke, that Sam needs to get his $40 for the book from Betty, and that Sally is owed $40 from Bob for her birthday present. What type of third-party beneficiary is Sam?

Accepted Answer

A)   Intended
B)   Creditor
C)   Both intended and creditor
D)   Donee
E)   Both creditor and doneeF) B) and D)
G) A) and E)

Question 6

Reference - Not So Rich Uncle. Bruce is attempting to convince Sally to marry him. He promises her that if she will marry him, he will buy a new Mercedes automobile for her within six months of the marriage and take her on a world tour within a year of the marriage date. Sally reluctantly agrees, and they sign an agreement by which Bruce agrees to provide the Mercedes and world tour. Bruce and Sally marry on January 1. Unexpectedly, on March 1, Bruce's supposedly rich uncle, Frank, dies. Frank has no living relatives other than Bruce, and Frank's will leaves everything to Bruce who is also appointed executor. In attempting to settle the estate, Bruce agrees orally to pay out of his own pocket debts of Frank totaling $10,000. Sally is concerned about Bruce's doing so. Bruce tells her not to worry because he will get all the money back when the estate settles. Bruce admits to a number of friends that he agreed to settle the debts out of his own pocket because he needed to obtain assets from the estate in a hurry. The assets were needed in large part to satisfy his obligations to Sally. Surprisingly, it later came to light that prior to his death Frank had signed away all his assets to his girlfriend in Argentina. There was nothing left in the estate for Bruce to inherit. Bruce disavowed his agreement to pay $10,000 to various creditors. Which of the following is the appropriate term for the marriage agreement entered into between Bruce and Sally?

Accepted Answer

A)   Marital solution agreement
B)   Marital dissolution agreement
C)   Prenuptial agreement
D)   Marriage acknowledgement agreement
E)   Marriage consideration agreementF) A) and D)
G) C) and D)

Question 7

In contracts other than those governed by the UCC, which of the following are required elements for a writing to be considered sufficient under the statute of frauds?

Accepted Answer

A)   Identification of the parties to the contract.
B)   Identification of the subject of the agreement.
C)   Identification of the penalties for nonperformance.
D)   Identification of the parties to the contract, identification of the subject of the agreement, and identification of the penalties for nonperformance.
E)   Identification of the parties to the contract and the subject of the agreement, but not penalties for nonperformance.F) B) and E)
G) D) and E)

Question 8

Which of the following are written contracts intended to be the complete and final representation of the parties' agreement?

Accepted Answer

A)   Complete contracts
B)   Integrated contracts
C)   Adhesion contracts
D)   Bilateral contracts
E)   Acknowledged contractsF) All of the above
G) C) and E)

Question 9

Reference - Third-Party Woes. Trudy owed Sam $40 for a book she purchased from him. Trudy mowed Betty's yard for $40 and agreed with Betty that Betty would pay Sam for the book. Sam is not initially aware of the agreement. Betty pays no one. Trudy also mowed Bob's yard for $40 in return for Bob's agreement to give the payment to Sally representing Trudy's birthday present to Sally. Bob later refuses to do so saying that promises to give gifts are not enforceable. He then moves out of town. Trudy tells both Sam and Sally that she is broke, that Sam needs to get his $40 for the book from Betty, and that Sally is owed $40 from Bob for her birthday present. Which of the following would be the likely result if Sally sues Trudy for the $40 promised to her for her birthday?

Accepted Answer

A)   Sally will win because Trudy is responsible for Bob's failure to pay.
B)   Sally will win only if she can prove that Bob is insolvent and unable to pay.
C)   Sally will win only if she can prove that she cannot find Bob in order to serve process on him.
D)   Sally will win only if she can prove both that Bob is insolvent and unable to pay, and that she cannot find Bob in order to serve process on him.
E)   Sally will lose because Trudy had no obligation to go through with the gift.F) None of the above
G) A) and B)

Question 10

There is no legally required wording to be used or forms to be filled out for assignments to be valid.

Accepted Answer

A) True 
 B)False

Question 11

Even if they would normally have to be in writing, if applicable criteria are met, oral contracts for ____________ goods are enforceable.

Accepted Answer

A)   Retailed
B)   Wholesale
C)   Collateral
D)   Consumer
E)   CustomizedF) A) and B)
G) A) and E)

Question 12

Sally agrees to mow Paul's yard for $300 for the summer. Paul wishes to assign the contract to his grandmother. Sally objects because Paul's yard is very small while the grandmother's yard is over an acre. Which of the following is the correct legal outcome for the dispute between Sally and Paul?

Accepted Answer

A)   Sally will win because Paul's attempted assignment would increase the duties to which she agreed.
B)   Sally will win because all assignments are invalid without the obligor's consent.
C)   Sally will win unless Paul paid her the $300 in advance in which case Paul will win.
D)   Paul will win because he may validly assign the contract without Sally's consent.
E)   Paul will win so long as he tells Sally about the assignment prior to the time she begins any performance whatsoever.F) B) and C)
G) A) and E)

Question 13

Creditor beneficiaries can enforce their rights under a contract whenever the contract is valid.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is false regarding rights of an assignee and assignor?

Accepted Answer

A)   Assignees essentially fill in for the assignor as the legal recipient of contractual duties.
B)   Assignees acquire the same rights as the assignor had.
C)   Assignees are offered additional protection than assignors.
D)   The obligor may raise any of the same defenses for nonperformance to the assignee that he would have been able to raise against the assignor.
E)   When an assignor transfers rights to an assignee, the assignor legally gives up all rights she previously had to collect on the contract.F) B) and E)
G) B) and D)

Question 15

What does the term "parol" in the "parol evidence rule" mean?

Accepted Answer

A)   Words establishing penalties
B)   Speech inside the original writing
C)   Words outside the original writing
D)   Words excusing breach of contract
E)   Untrue speech outside the original writingF) D) and E)
G) None of the above

Question 16

Which of the following states that in the case of multiple assignments of the same right, the first assignee to give notice of assignment to the obligor is the party with rights to the contract?

Accepted Answer

A)   The first-assignment-in-time rule
B)   The last-assignment-in-time rule
C)   The English rule
D)   The French rule
E)   The American ruleF) A) and E)
G) C) and D)

Question 17

Which of the following is false regarding the parol evidence rule?

Accepted Answer

A)   It is not limited to spoken words.
B)   It is a rule of evidence.
C)   It relates to substantive legal issues.
D)   It is an amalgamation of different rules and conditions.
E)   It applies to writings created at the same time as the written agreement.F) B) and E)
G) C) and D)

Question 18

Lists four situations under which contractual rights cannot be assigned.

Accepted Answer

Four situations under which contractual ...

Question 19

A[n] ___________ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

Accepted Answer

A)   Incidental
B)   Creditor
C)   Donee
D)   Vested
E)   AccidentalF) All of the above
G) C) and E)

Question 20

There is federal U.S. legislation titled "Statute of Frauds".

Accepted Answer

A) True 
 B)False

Exam 12: Reality of Assent

Correct Answer
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Which of the following is false regarding the parol evidence rule?

Correct Answer
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Which of the following are written contracts intended to be the complete and final representation of the parties' agreement?

Correct Answer
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In contracts other than those governed by the UCC, which of the following are required elements for a writing to be considered sufficient under the statute of frauds?

Correct Answer
verified

Which of the following is true regarding the rights of an incidental beneficiary to a contract to sue to recover incidental rights?

Correct Answer
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There is no legally required wording to be used or forms to be filled out for assignments to be valid.

Correct Answer
verified

Lists four situations under which contractual rights cannot be assigned.

Correct Answer
verified
Four situations under which contractual ...
View Answer

There is federal U.S. legislation titled "Statute of Frauds".

Correct Answer
verified

The ___________ rule is a common law rule that addresses the admissibility of oral evidence as it relates to written contracts.

Correct Answer
verified

Correct Answer
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Creditor beneficiaries can enforce their rights under a contract whenever the contract is valid.

Correct Answer
verified

Which of the following states that in the case of multiple assignments of the same right, the first assignee to give notice of assignment to the obligor is the party with rights to the contract?

Correct Answer
verified

Which of the following is false regarding rights of an assignee and assignor?

Correct Answer
verified

Define the term "admission" in relation to contracts under the statute of frauds. Discuss the pros and cons of the rule on admissions, and whether you think courts should recognize admissions.

Correct Answer
verified
An admission is a statement made in cour...
View Answer

Even if they would normally have to be in writing, if applicable criteria are met, oral contracts for ____________ goods are enforceable.

Correct Answer
verified

Sally agrees to mow Paul's yard for $300 for the summer. Paul wishes to assign the contract to his grandmother. Sally objects because Paul's yard is very small while the grandmother's yard is over an acre. Which of the following is the correct legal outcome for the dispute between Sally and Paul?

Correct Answer
verified

What does the term "parol" in the "parol evidence rule" mean?

Correct Answer
verified

Correct Answer
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A[n] ___________ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

Correct Answer
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Which of the following is a type of intended beneficiary?

Correct Answer
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Exam 12: Reality of Assent

Correct AnswerverifiedShow Answer

Which of the following is false regarding the parol evidence rule?

Correct AnswerverifiedShow Answer

Which of the following are written contracts intended to be the complete and final representation of the parties' agreement?

Correct AnswerverifiedShow Answer

In contracts other than those governed by the UCC, which of the following are required elements for a writing to be considered sufficient under the statute of frauds?

Correct AnswerverifiedShow Answer

Which of the following is true regarding the rights of an incidental beneficiary to a contract to sue to recover incidental rights?

Correct AnswerverifiedShow Answer

There is no legally required wording to be used or forms to be filled out for assignments to be valid.

Correct AnswerverifiedShow Answer

Lists four situations under which contractual rights cannot be assigned.

Correct AnswerverifiedFour situations under which contractual ...View AnswerShow Answer

There is federal U.S. legislation titled "Statute of Frauds".

Correct AnswerverifiedShow Answer

The ___________ rule is a common law rule that addresses the admissibility of oral evidence as it relates to written contracts.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Creditor beneficiaries can enforce their rights under a contract whenever the contract is valid.

Correct AnswerverifiedShow Answer

Which of the following states that in the case of multiple assignments of the same right, the first assignee to give notice of assignment to the obligor is the party with rights to the contract?

Correct AnswerverifiedShow Answer

Which of the following is false regarding rights of an assignee and assignor?

Correct AnswerverifiedShow Answer

Define the term "admission" in relation to contracts under the statute of frauds. Discuss the pros and cons of the rule on admissions, and whether you think courts should recognize admissions.

Correct AnswerverifiedAn admission is a statement made in cour...View AnswerShow Answer

Even if they would normally have to be in writing, if applicable criteria are met, oral contracts for ____________ goods are enforceable.

Correct AnswerverifiedShow Answer

Sally agrees to mow Paul's yard for $300 for the summer. Paul wishes to assign the contract to his grandmother. Sally objects because Paul's yard is very small while the grandmother's yard is over an acre. Which of the following is the correct legal outcome for the dispute between Sally and Paul?

Correct AnswerverifiedShow Answer

What does the term "parol" in the "parol evidence rule" mean?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A[n] ___________ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

Correct AnswerverifiedShow Answer

Which of the following is a type of intended beneficiary?

Correct AnswerverifiedShow Answer

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Four situations under which contractual ...
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An admission is a statement made in cour...
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