LENB

main-purpose

The assumption behind the ______ rule is that a party attempting to achieve a personal benefit will not back out of the agreement; therefore, there is no need for a written record of the agreement.

assignment-in-time

The first-______ rule states that the first party granted the assignment is the party correctly entitled to the contractual right.

assignor; assignee

An assignment occurs when a party to a contract, the ______, transfers his or her rights to the contract to a third party, the ______.

life

The most common form of donee beneficiary contract is a(n) ______ insurance policy.

Delegatee

A delegation occurs when a party to a contract transfers his or her duty to perform to a(n) ______.

delegator; delegatee

A delegation occurs when a(n) ______ transfers his or her duty to perform to a(n) ______.

personal

A duty is _________ in nature when it requires the specific talents, skills and expertise of the obligor.

intended

A third-party beneficiary is a(n) ______ beneficiary of a contract between two other parties.

intended

A(n) ______ beneficiary is a third party to a contract whom the contracting parties intended to benefit directly from their contract.

creditor

A(n) ______ beneficiary is a third party who benefits from a contract in which the promisor agrees to pay the promisee's debt.

incidental

A(n) ______ beneficiary is one who unintentionally gains a benefit from a contract between other parties.

merger

A(n) ______ clause is a clause parties include in a written agreement within the statute of frauds stating that the written agreement accurately reflects the final, complete version of the agreement.

third-party beneficiary

A(n) ______ contract is created when two parties enter into a contract with the intended purpose of benefiting a third party.

obligor

A(n) ______ is a party who agrees to do something under a contract.

obligee

A(n) ______ is a party who agrees to receive something from the other party to the contract.

Rights for a bank to sell a mortgage instrument to another bank

Contractual rights that cannot be assigned include all but which of the following?

Rights to receive money

Contractual rights that cannot be assigned include all but which of the following?

intended

Dianne (the promisee) agrees to pay Charles (the promisor) to paint Henry's (the third party's) house. Henry tells Charles what color he wants the house and when Charles should be there to paint. Henry's ability to control how Charles paints the house demonstrates his status as a(n) ______ beneficiary.

secondary

If an administrator or executor agrees to pay estate debts personally, he or she has assumed a(n) ______ obligation.

the incidental beneficiary

In determining whether a third party is an intended beneficiary, courts ask whether the contracting parties intended the third party to be all but which of the following?

delegatee

Instead of the third party receiving something, as in an assignment, delegations require the ______ to fulfill the delegator's contractual obligation to the obligee.

secondary

A(n) ______ obligation arises when a party outside a primary agreement promises to fulfill the primary debtor's obligations if the primary debtor fails to fulfill his or her obligation.

delegation

A(n) ______ occurs when a party to a contract transfers his or her duty to perform to a third party who is not part of the original contract.

assignment

A(n) ______ occurs when a party to a contract transfers his or her rights to a third party.

service of process from the first assignee

According to the Restatement (Second) of Contracts, if a first assignment is legally voidable or revocable by the assignor, a later assignee is considered the legal owner of a contractual right if he or she offers something to the assignor as consideration and then obtains any but which of the following?

Terms other than quantity must be exact and included in the written contracts.

According to the Uniform Commercial Code (UCC), Section 2-201, which of the following is an incorrect statement about contracts for the sale of goods priced at $500 or more?

the parties' actions

According to the Uniform Commercial Code, all but which of the following satisfies the writing requirement for sales contracts?

An oral contract for customized goods

According to the Uniform Commercial Code, which of the following is a recognized exception to the writing requirement of the statute of frauds?

an oral contract between merchants

According to the Uniform Commercial Code, which of the following is a recognized exception to the writing requirement of the statute of frauds?

the quantity of goods to be sold

According to the Uniform Commercial Code, which of the following is a required written element of a sales contract?

English

According to the ______ rule regarding notice of assignment, the first assignee to give notice of assignment to the obligor is the party with rights to the contract.

main-purpose

According to the ______ rule, if the main purpose for incurring a secondary obligation is to obtain a personal benefit, the promise does not fall within the statute of frauds and need not be in writing.

Uniform Commercial Code

According to the ______, parol evidence is admissible for the sake of clarification if the evidence addresses prior dealings between the parties or usages of trade in the same business as the parties' field.

a written contract itself

All but which of the following evidence is typically excluded under the parol evidence rule?

admission

A(n) ______ is a statement made in court, under oath, or at some stage during a legal proceeding in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

donee

A ______ beneficiary is a third party who benefits from a contract in which a promisor agrees to give a gift to the third party.

two

A contract usually involves _____ parties.

privity

Contracts are typically private agreements, in the sense that the focus of the contract is the two parties involved and no one else. The two parties are said to be in ______ of contract.

obligor

Attorney Jack Highlander agrees to represent Charity Vance in a divorce proceeding next month. In this specific context, Highlander is a(n) ______ under the contract.

obligee

By way of an attorney-client agreement, Charity Vance looks forward to attorney Jack Highlander's legal representation of her in a divorce proceeding next month. In this specific context, Charity is a(n) ______ of the contract.

vest

For a contract right to ______, the right must mature so that a party can legally act on it.

Third-party rights cannot vest unless the third party is able to establish that he or she is an incidental beneficiary of the contract.

Identify an inaccurate statement regarding the vesting of a third party's rights under a contract.

creditor

If Juan agrees to pay Amanda's credit card debt, Amanda's credit card company is a(n) ______ beneficiary.

donee

If a contract intends to grant a gift to a third party, the third party is a(n) ______ beneficiary.

creditor

If a promise in a contract is intended to release a party from an obligation to a third party, such as the paying of one's debt, the contract involves a(n) ______ beneficiary.

frauds

Partial performance is an exception to the statute of ______ in which the performance of portions of an unwritten agreement by one or both parties can constitute proof that an oral contract exists between the parties.

privity

Parties not in ______ of contract usually do not have rights to a contract.

Promisee

Suppose Amanda contracts with Alex to clean his house. In return, Alex agrees to pay Amanda's credit card debt to her credit card company. In this third-party beneficiary contract, Amanda is the ______.

Due to its ambiguous language, the contract involves both an assignment of rights and a delegation of duties.

Suppose an assignor transfers rights to an assignee under a contract stating "I assign all of my rights under the contract," but nothing is said specifically about a delegation of duties. What would a court likely conclude regarding the assignment of rights and the delegation of duties under such a contract?

Due to its ambiguous language, the contract involves both an assignment of rights and a delegation of duties.

Suppose an assignor transfers rights to an assignee under a contract stating "I assign the contract," but nothing is said specifically about a delegation of duties. What would a court likely conclude regarding the assignment of rights and the delegation of duties under such a contract?

promisor

Suppose that Amanda contracts with Alex to clean his house. In return, Alex agrees to pay Amanda's credit card debt to her credit card company. In this third-party beneficiary contract, Alex is the ______.

parol; common

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

parol

The ______ evidence rule states that oral evidence of an agreement made prior to or contemporaneously with a written agreement is inadmissible when the parties intended the written agreement to be the complete and final version of their agreement.

promisor

The ______ in a third-party beneficiary contract is the party to the contract who made the promise that benefits the third party.

promisee

The ______ is the party to the contract who owes something to the promisor in exchange for the promise made to the third-party beneficiary.

integrated

The parol evidence rule applies when there is a fully ________ agreement.

parol evidence

The purpose of the ______ rule is to restrict evidence from being admitted that substantially contradicts the agreement in its written form.

This is false. The parol evidence rule does not prevent parties from introducing evidence proving the written agreement was conditioned on terms agreed to orally.

True or false: The parol evidence rule prevents parties from introducing evidence proving the written agreement was conditioned on terms agreed to orally.

principal; agent

Under the equal dignity rule, contracts that would normally fall under the statute of frauds and need a writing if negotiated by the ______ must be in writing even if negotiated by a(n) ______.

Contracts transferring other interests in land are outside the statute of frauds.

Under the statute of frauds, which of the following is not true of the contracts related to an interest in land?

the tractors used on the land

Under the statute of frauds, which of the following parts of a land is not considered real property?

vest

Vince is a third-party beneficiary to a contract. When he finds out about the contract, he decides to lease a new car because he is expecting to benefit from the contract. Obtaining the lease would cause Vince's rights to the contract to ______ because doing so demonstrates a change in position based on reliance on the contract.

condition precedent

When an entire contract is conditioned on something occurring first, that first thing is known as a

antiassignment

When parties include a(n) ______ clause in their contract, the parties are attempting to limit their ability to assign their rights under the contract.

Duties that are personal in nature

Which of the following are duties that cannot be delegated?

When a contract is fundamentally flawed in missing critical information, courts can allow parol evidence to provide the missing information.

Which of the following is a correct statement regarding the relationship between the parol evidence rule and incomplete contracts?

It reduces the court's guesswork in determining whether the written agreement was in fact intended to be the final statement of an agreement.

Which of the following is a distinct advantage of a merger clause?

duties that are standardized and nonpersonal in nature

Which of the following is a duty that can be delegated?

One of the contracting parties transfers rights or duties to the third party.

Which of the following is a main situation in which a third party gains rights to a contract to which he or she is not a party?

The third party is a direct beneficiary of the contract.

Which of the following is a main situation in which a third party gains rights to a contract to which he or she is not a party?

a contract related to an interest in land

Which of the following is a specific type of contract that falls within the statute of frauds?

a creditor beneficiary

Which of the following is a type of intended beneficiary?

a donee beneficiary

Which of the following is a type of intended beneficiary?

It grants legal right to the first assignee in most situations.

Which of the following is an accurate statement regarding the Restatement (Second) of Contracts rule regarding notice of assignment?

Evidence of a condition precedent agreed to orally is admissible because the contract is not modified by such evidence.

Which of the following is an accurate statement regarding the applicability of the parol evidence rule to evidence of a condition precedent?

If worded improperly or ambiguously, an antiassignment clause does not effectively limit an assignment.

Which of the following is an accurate statement regarding the enforceability of an antiassignment clause?

Most states currently use the first-assignment-in-time rule.

Which of the following is an accurate statement regarding the first-assignment-in-time rule?

A delegator is not relieved of his or her duty to perform an assignment by making a delegation.

Which of the following is an accurate statement regarding the liability of a delegator?

Evidence of a written contract's subsequent modification is admissible if it was made after the contract and if it clearly indicates the modification.

Which of the following is an accurate statement regarding the relationship between the parol evidence rule and the subsequent modification of an existing, written contract?

Courts allow parol evidence to demonstrate that a contract is void or voidable.

Which of the following is an accurate statement regarding the relationship between the parol evidence rule and void or voidable contracts?

An intended beneficiary can sue to enforce a contract obligation, while an incidental beneficiary cannot sue to enforce a contract obligation.

Which of the following is an accurate statement regarding the rights of third-party beneficiaries to sue to enforce contract obligations?

When a contract consists of both written and oral elements, judges tend to treat the agreement as finalized.

Which of the following is an incorrect statement regarding the applicability of the parol evidence rule to a nonfinalized, partially written and partially oral, contract?

When a contract contains ambiguous terms, the court allows only written evidence to be introduced to clarify the ambiguous terms.

Which of the following is an incorrect statement regarding the relationship between the parol evidence rule and contracts containing ambiguous terms?

A written agreement is fundamentally altered by allowing parol evidence to correct a typo.

Which of the following is an incorrect statement regarding the relationship between the parol evidence rule and contracts with serious and obvious typographical errors?

The parol evidence rule prohibits the admissibility of evidence of prior dealings or usage of trade.

Which of the following is an incorrect statement regarding the relationship between the parol evidence rule and evidence of prior dealings or usage of trade?

Allowing evidence that proves a contract is void or voidable violates the parol evidence rule.

Which of the following is an incorrect statement regarding the relationship between the parol evidence rule and void or voidable contracts?

If the contract's terms require modifications to be in writing, oral modifications are nevertheless admissible.

Which of the following is an incorrect statement regarding the subsequent modification of an existing, written contract?

To say that contract rights have vested means that the rights have not yet matured.

Which of the following is an incorrect statement regarding the vesting of contract rights?

Laws do not currently recognize any exceptions to the enforceability of an antiassignment clause in a contract.

Which of the following is an incorrect statement regarding whether an assignment can be made despite an antiassignment clause in a contract?

whether the third party paid the obligor consideration for the benefit

Which of the following is not a factor a court will consider in determining whether a party is an intended or an incidental beneficiary in a contract?

contracts that are represented to be the full and final agreement of the parties

Which of the following is not a recognized exception to the parol evidence rule?

contracts with a merger clause

Which of the following is not a recognized exception to the parol evidence rule?

The United States Constitution expressly protects and preserves the ability to assign a right to payment.

Which of the following is not a recognized reason why, even when a contract has an antiassignment clause, either party may still assign his or her right to receive payment?

a contract for the sale of goods valued at less than $500

Which of the following is not a specific type of contract that falls within the statute of frauds?

the signature of both parties at the end of the contract

Which of the following is not a writing element required by the statute of frauds?

the signature of the plaintiff suing to enforce the contract

Which of the following is not an element required for a writing to satisfy the statute of frauds?

delegator

With a delegation, the ______ transfers his or her duty to perform to a third party who is not part of the original contract.

Primary

______ obligations are debts entered into in an initial contract.

A minority of

______ states have adopted the English rule regarding notice of assignment.