TRUE or FALSE 1. Under the modern rule, the transfer of both rights and duties u
ID: 1209931 • Letter: T
Question
TRUE or FALSE
1.Under the modern rule, the transfer of both rights and duties under a contract is called an assignment.
2. To make a person a donee beneficiary, the creation of the gift of the contracted performance to the third party must be the promisee's primary purpose in contracting.
3. Public policy can prevent the delegation of duties.
4. As a general rule, an assignment of rights does not also create a delegation of duties unless the terms of the assignment specifically so provide.
5. Persons who were not originally parties to a contract may claim some interest in it as assignees or donee beneficiaries or creditor beneficiaries.
6. As with the formation of all contracts, an assignment contract requires consideration in order to be enforceable.
7. A novation is a previous agreement by the promisee to release the original promisor from liability in exchange for a third party's agreement to assume the promisor's duties.
8. Life insurance contracts give the insured the right to change the beneficiary only with the beneficiary's consent.
9.The "American Rule" concerning notice to the promisor of an assignment can be described as "first in time, first in right."
Explanation / Answer
1. Under the modern rule, the transfer of both rights and duties under a contract is called an assignment.- True.
2. To make a person a donee beneficiary, the creation of the gift of the contracted performance to the third party must be the promisee's primary purpose in contracting.- True.
3. Public policy can prevent the delegation of duties.- True.
4. As a general rule, an assignment of rights does not also create a delegation of duties unless the terms of the assignment specifically so provide.
5. Persons who were not originally parties to a contract may claim some interest in it as assignees or donee beneficiaries or creditor beneficiaries.- True.
6.As with the formation of all contracts, an assignment contract requires consideration in order to be enforceable.-
7. A novation is a previous agreement by the promisee to release the original promisor from liability in exchange for a third party's agreement to assume the promisor's duties.-
8. Life insurance contracts give the insured the right to change the beneficiary only with the beneficiary's consent.- False.
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