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5 Written questions

5 Matching questions

  1. Time for Performance
  2. Voidable Contract
  3. Suit
  4. Goods (UCC)
  5. Novation
  1. a Any tangible, personal property capable of being moved at the identification for sale, not including realty or anything annxed to the structure
  2. b The consent of all three parties - the two original parties and the substituting party - the substitute is held responsible
  3. c Breach of contract
  4. d Gives rise to whose time for performance is due; look to the terms of the contract for who is to perform and when
  5. e Contracts that fall within the statute of frauds

5 Multiple choice questions

  1. Designed to keep an offer open for a stated period of time or a reasonable period of time
  2. I: Was the contract still deemed valid and/or voidable?
    R: Performance: Impossibility: The initial contract was created when it was lawful material issue, but now it is unlawful & Void Contract: A contract that by its very terms is illegal, depending on the laws of the moment
    A: Mr. Luu could not possibly do what he had desired
    C: The contract is deemed void, due to legality
  3. Where both parties agree to disaffirm the original contract
  4. A merchant offers another to keep an offer open for a state period of time, not to exceed 3 months or 90 days, and no consideration is needed
  5. Does not fit the merchant status

5 True/False questions

  1. Good faith (UCC)Presumption of good faith, including honesty and fact


  2. Incidental BeneficiaryThe promisee performed specific acts, based on the existing promise


  3. ModificationA change in terms post-contracting


  4. Partial PerformanceThe sale of goods
    1. Goods
    2. Good faith
    3. Merchant
    4. Offer
    5. Acceptance
    6. Consideration
    7. Defenses
    8. Warranties


  5. BeneficiaryThe 3rd party or person


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