Business Law Quiz 16-17?

[MY NAME]

1. A and B enter into a contract for the distribution of A's produce to local restaurants and wineries for which A agree to pay B. B transfers his right to payment under the contract to C bank. This transfer is

a. a delegation
b. an assignment
c. an obligator
d. prohibited

2. Privity of contract is the principle under which contracting parties alone traditionally had rights and liabilities under their contract. (T/F)

3. Equity Company and Faye enter into a contract for Faye to cater a meeting of Equity's Shareholders. When Faye's schedule conflicts, she asks Gudren to serve Faye's coffee and pastries at the meeting. This transfer is

a. a delegation
b. an assignment
c. an obligator
d. prohibited

4. A party who substantially perform his or her duties under a contract can enforce the contract against the other party. (T/F)

5. Belle enters into a contract to subdivide and sell housing lots in Cole’s hillside field if Dell City annexes the property within the next year. Belle’s duty to perform is

a. absolute.
b. conditional.
c. illusional.
d. irresolute.

6. Don agrees to buy Ed’s Bicycle Store on the condition that First State Bank approves the financing. This approval is

a. a concurrent condition.
b. a condition precedent.
c. a condition subsequent.
d. a solvent condition.

7. Eton and Fiona sign a contract by which Eton agrees to deliver a washing machine on July 31 in exchange for Fiona’s promise to pay the $500 purchase price on July 31. The delivery of the washing machine and the payment of $500 are examples of

a. conditions precedent.
b. concurrent conditions.
c. conditions subsequent.
d. illegal conditions.

8. A right to receive damages on a breach of a contract for a sale of goods may be assigned. (T/F)

[ronjon007]

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