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Exam 14: Third Party Rights and Discharge

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Question 21

True/False

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A contract is substantially performed when performance creates substantially the same benefits as those promised in the contract.

A) True
B) False

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Question 22

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Gliding Light, LLC, and Hang Gliders, Inc., are parties to a contract. They subsequently agree that High Riders Inc. should take Gliding Light's place and assume all of its rights and duties under the contract. This is​

A) ​a mutual agreement to rescind.
B) ​an accord and satisfaction.
C) ​a novation.
D) ​a settlement agreement.

E) All of the above
F) A) and C)

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Question 23

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A transfer of contract rights to a third party is an assignment.

Quest Resources, Inc., contracts with Ring Communications Corporation (RCC) for RCC to design and build an all-weather communications sys­tem for Quest's field operations. RCC builds the system, but it func­tions effec­tively only in good weather. Is this a breach of the contract? If so, what remedies does Quest have?​

A contract between Laser Maintenance, Inc., and Medical Vision Operation Corporation contains a clause stating that any assignment is "void." This ordinarily prohibits​

Fact Pattern 14-1 Flora, who owns and operates Garden Fresh Organic Farms, agrees to sell Harvesters Grocery a minimum quantity of fresh fruits and vegetables every week for three months. -Refer to Fact Pattern 14-1.If Flora dies before the deliveries begin, her contract with Harvesters is

Contracts that are executory on both sides can be rescinded by agreement.

All rights can be assigned with no exceptions.

Bill and Charlene enter into a contract for the clearing, plowing, and preparing of Charlene's 100-acre tract for which she agrees to pay $1,000. Bill transfers his duty under this contract to Dewey. Dewey is​

Orchid and Peony enter into a contract for the sale of Orchid’s textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. This transfer is

Any breach allows the nonbreaching party to sue for damages.

An incidental third party beneficiary cannot sue to enforce the contract because the benefit is unintentional.

Ed's Electric substantially performs its contract with Forest Hills Apartments, Inc., to deliver and install an alarm system and parking lot lighting. Forest Hills is entitled to​

Revenue & Sales Corporation and Software Solutions, Inc., enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $4,500. Software Solutions transfers the right to payment under the contract to Creditline Company. Creditline is

D'Alemberte contracts with Elias to render personal nursing services for the benefit of Federica. This is​

Kali contracts to sell Leony her car for $3,000. This contract will be fully discharged when Kali and Leony​

Opportunity Market Company (OMC) and Pierce enter into a contract for Pierce to cut and trim the landscaping around OMC's building before a meeting of the company's sales staff. When Pierce's schedule conflicts, he asks Rachel to do the cutting and trimming. This transfer of duties is

An "assignment of all rights" creates an assignment of rights but not a delegation of duties.

Fact Pattern 14-1 Flora, who owns and operates Garden Fresh Organic Farms, agrees to sell Harvesters Grocery a minimum quantity of fresh fruits and vegetables every week for three months. -Refer to Fact Pattern 14-1.If bad weather destroys Flora's crops, the obligation to deliver produce to Harvesters is

A condition is a qualification in a contract based on a future event that is certain to occur.