LSB 3213 Exam 4
Frustration of purpose - A court-created doctrine under which a party to a contract will be
relieved of his or her duty to perform when the objective purpose for performance no longer exists (due
to reasons beyond that party's control).
Based on Bluto's conduct, Cass reasonably believes that Dee has the authority to act on Bluto's behalf
even though Dee does not have the actual authority to do so. Cass makes a payment to Dee for Bluto.
Dee keeps the money and disappears. Bluto - must be estopped from denying that Dee had
authority.
A fiduciary relationship involves - trust and confidence.
A minor cannot be appointed as an agent. - False
A partially disclosed principal is on whose first, but not last, name is known by a third party with whom
an agent contracts on the principal's behalf. - False
A party normally satisfies its duties under a contract by novation. - False
A power of attorney can be given only to an actual attorney. - False
A principal is responsible for all intentional torts committed by an agent. - False
After a contract is made, a supervening event may make performance - impossible and discharge
the contract.
An agency relationship does not exist outside employer-employee relationships. - False
An agent can take advantage of an agency relationship to make a "secret" profit. - False
, An agent is authorized to act on behalf of a principal in doing business with third parties. - True
An incidental benificiary is not entitled to enforce the promise of a promisor. - True
An intention variation from a contract prevents substantial performance. - False
Any breach allows the nonbreaching party to cancel the contract. - False
Anything less than complete performance is a material breach of contract. - False
Assignee - The party receiving the assignment
Assignment - The transfer of rights to a third party
Assignor - The party assigning
Betty assigns her right to payment of a loan to Cody. Cody is - a creditor benificiary
Brad is an employee of Custodial Service, Inc. In deciding whether Brad acts within the scope of his
employment when he commits a tort against Didi, a court will not consider whether - Brad
indicated that he was acting on behalf of Custodial.
Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining,
Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, its
performance will be - substantial.
A enters into a contract with B Fitness Club for discounted memberships for As employees. If B breaches
the contract and A enters into a contract with D Sports for the same service at a lower price, A might be
awarded nominal damages to - establish, as a matter of principle, that B acted wrongfully.
Frustration of purpose - A court-created doctrine under which a party to a contract will be
relieved of his or her duty to perform when the objective purpose for performance no longer exists (due
to reasons beyond that party's control).
Based on Bluto's conduct, Cass reasonably believes that Dee has the authority to act on Bluto's behalf
even though Dee does not have the actual authority to do so. Cass makes a payment to Dee for Bluto.
Dee keeps the money and disappears. Bluto - must be estopped from denying that Dee had
authority.
A fiduciary relationship involves - trust and confidence.
A minor cannot be appointed as an agent. - False
A partially disclosed principal is on whose first, but not last, name is known by a third party with whom
an agent contracts on the principal's behalf. - False
A party normally satisfies its duties under a contract by novation. - False
A power of attorney can be given only to an actual attorney. - False
A principal is responsible for all intentional torts committed by an agent. - False
After a contract is made, a supervening event may make performance - impossible and discharge
the contract.
An agency relationship does not exist outside employer-employee relationships. - False
An agent can take advantage of an agency relationship to make a "secret" profit. - False
, An agent is authorized to act on behalf of a principal in doing business with third parties. - True
An incidental benificiary is not entitled to enforce the promise of a promisor. - True
An intention variation from a contract prevents substantial performance. - False
Any breach allows the nonbreaching party to cancel the contract. - False
Anything less than complete performance is a material breach of contract. - False
Assignee - The party receiving the assignment
Assignment - The transfer of rights to a third party
Assignor - The party assigning
Betty assigns her right to payment of a loan to Cody. Cody is - a creditor benificiary
Brad is an employee of Custodial Service, Inc. In deciding whether Brad acts within the scope of his
employment when he commits a tort against Didi, a court will not consider whether - Brad
indicated that he was acting on behalf of Custodial.
Building Restoration, Inc. (BRI), enters into a contract to refurbish an old train depot for Casual Dining,
Inc., to open as Eat Up Restaurant. If BRI completes most of the work promised in the contract, its
performance will be - substantial.
A enters into a contract with B Fitness Club for discounted memberships for As employees. If B breaches
the contract and A enters into a contract with D Sports for the same service at a lower price, A might be
awarded nominal damages to - establish, as a matter of principle, that B acted wrongfully.
