Business - Chapter 14 Quiz

Business - Chapter 14 Quiz

26 Qs

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Business - Chapter 14 Quiz

Business - Chapter 14 Quiz

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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A(n) _____ is the transfer of contractual rights by an obligee to another party.

delegation
annulment
exoneration
assignment
stipulation

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which of the following is an INCORRECT statement regarding the assignment of contract​ rights?

The right to sue another party for a violation of personal rights cannot usually be assigned.
​Generally, no formalities are required for a valid assignment of rights.
Contracts for the provision of personal services are generally assignable.
​Usually, a person cannot assign a currently nonexistent right that he or she expects to have in the future.
A contract cannot be assigned if the assignment would materially alter the risk or duties of the obligor.

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

​Raul, a real estate​ agent, signs an option contract to purchase a dilapidated house on First Street from Amir. Prior to​ closing, Raul assigns the purchase contract to his brother Julio. When Julio shows up to the closing with the check to​ purchase, Amir refuses to sell Julio the house. Is Amir within his​ rights?

​No, because Julio was an incidental beneficiary of the contract
​No, because Julio was an intended beneficiary of the contract
​Yes, unless he was provided with notice of the assignment
​No, because Raul assigned his contract to Raul
​No, because Raul delegated his rights under the contract

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which of the following types of contract can be​ assigned?

An agreement to star in a movie
A right to receive an inheritance
A right to receive payment from another
A​ driver's auto insurance policy
An injured​ person's right to sue the person who injured them.

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Big​ Toys, LLC enters into a lease to rent space from Outdoor​ Mall, Inc. The lease provides that Outdoor​ Mall, Inc. will clean the windows once per month. Outdoor​ Mall, Inc. hires Mary to clean the windows. Is Outdoor​ Mall, Inc. in violation of the lease​ agreement?

​Yes, unless Big Toys approves of the delegation
​Yes, unless Big Toys approves of the assignment
​No, because Mary is the intended beneficiary of the lease
​No, unless prohibited in the​ agreement, duties can be delegated to other parties
​Yes, this duty cannot be delegated

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

If a client retains a firm of accountants to do work for him or​ her, the firm can​ _________ the duties under the contract to any qualified member of the firm.

assign
delegate
discharge
covenant
condition

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

If a famous singer is hired to give a concert on a college​ campus, she can appoint another singer to appear in her place under which​ theory?

assignment
no theory
condition precedent
discharge
delegation

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