Privity of Contract... Select one: a. Means that contracts must be in writing to be enforceable b. None of these c. Mean
Posted: Tue Apr 26, 2022 12:56 pm
Privity of Contract...
Select one:
a. Means that contracts must be in writing to be
enforceable
b. None of these
c. Means that parties must specifically denote their
responsibilities in a contract
d. Means that persons named in a contract can be bound by
the contract
e. Means that only persons who are parties to a contract
may sue or be sued on the contract
Vicarious performance
Select one:
a. Refers to the performance of work specified in a
contract by another
b. Permits assignment of contracts
c. Means that the person named in the contract must perform
the contract
d. Prevents assignment of contracts
e. None of these
Which of the following may not be refused as payment under a
contract in the absence of special provision for acceptance
Select one:
a. None of these may be refused
b. Bill of exchange
c. Legal currency/tender (other than limited amounts of
coin)
d. Credit card
e. Personal cheque
A guarantee involves:
a. A principal, a debtor and a third party
b. A principal and a debtor
c. A debtor and a third party who takes responsibility for
the debt
d. A principal and a third party
e. A principal and a debtor
A guarantor:
a. Is responsible for payment of a debt as soon as the
principal demands payment
b. Agrees to take responsibility for a debt immediately
c. Assumes full responsibility of a debt upon signing as
guarantor
d. Assumes contingent liability for the debt of another
e. Can be required to pay a debt on behalf of another at
the option of the debt holder
Legal Mistake:
a. Has a very broad meaning
b. Does not require an analysis of whether the parties had
a meeting of the minds
c. Has the same meaning as that of mistake found in the
dictionary
d. Includes a mistake due to one party's negligence
e. Exists when the parties have entered into an agreement
that does not express their true intentions
A mistake as to the identity of those involved in a
contract:
a. May put the contract into abeyance but not void it
b. Is always a ground for voiding a contract
c. May not render a contract unenforceable in any
circumstances
d. Is never a ground for voiding a contract
e. May render a contract unenforceable if the identity of
the person is an essential element of the contract
Select one:
a. Means that contracts must be in writing to be
enforceable
b. None of these
c. Means that parties must specifically denote their
responsibilities in a contract
d. Means that persons named in a contract can be bound by
the contract
e. Means that only persons who are parties to a contract
may sue or be sued on the contract
Vicarious performance
Select one:
a. Refers to the performance of work specified in a
contract by another
b. Permits assignment of contracts
c. Means that the person named in the contract must perform
the contract
d. Prevents assignment of contracts
e. None of these
Which of the following may not be refused as payment under a
contract in the absence of special provision for acceptance
Select one:
a. None of these may be refused
b. Bill of exchange
c. Legal currency/tender (other than limited amounts of
coin)
d. Credit card
e. Personal cheque
A guarantee involves:
a. A principal, a debtor and a third party
b. A principal and a debtor
c. A debtor and a third party who takes responsibility for
the debt
d. A principal and a third party
e. A principal and a debtor
A guarantor:
a. Is responsible for payment of a debt as soon as the
principal demands payment
b. Agrees to take responsibility for a debt immediately
c. Assumes full responsibility of a debt upon signing as
guarantor
d. Assumes contingent liability for the debt of another
e. Can be required to pay a debt on behalf of another at
the option of the debt holder
Legal Mistake:
a. Has a very broad meaning
b. Does not require an analysis of whether the parties had
a meeting of the minds
c. Has the same meaning as that of mistake found in the
dictionary
d. Includes a mistake due to one party's negligence
e. Exists when the parties have entered into an agreement
that does not express their true intentions
A mistake as to the identity of those involved in a
contract:
a. May put the contract into abeyance but not void it
b. Is always a ground for voiding a contract
c. May not render a contract unenforceable in any
circumstances
d. Is never a ground for voiding a contract
e. May render a contract unenforceable if the identity of
the person is an essential element of the contract