AIC 301 EXPANDING YOUR CLAIMS
PERSPECTIVE EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2026
Ray sells a schooner to Catherine. The bill of sale indicates
the price of the schooner as well as the make, model, and
year of the boat. Catherine later claims in a lawsuit that Ray
had promised to include communications and computer
equipment in the sale, and she attempts to support her
claim in court with a letter written by Ray. Ray wrote and
signed the letter before the date of the final bill of sale, in
which he promised to include the claimed items. Under the
parol evidence rule, the contract
Select one:
A. Will be modified to add only the letter written and signed
before the date of the final bill of sale.
B. Includes all documents relating to the sale including the
letter Ray wrote prior to the sale.
C. Will become voidable due to the parol evidence rule.
,D. Will not include the letter because the letter cannot be
admitted into evidence. - ANSWERS-D. Will not include the
letter because the letter cannot be admitted into evidence.
The parol evidence rule will prevent the inclusion of the
letter Ray wrote prior to the sale and the contract will not
be modified. The parol evidence rule is based on the
assumption that all prior negotiations, conversations, and
agreement were merged into the final, written contract
which became the complete statement of Ray's and
Catherine's intent.
An assignee's notice of assignment to the obligor on the
contract also protects
Select one:
A. All beneficiaries of the assignment.
B. Innocent parties indirectly affected by the assignment.
C. Any parties injured by the assignment.
D. Additional parties who might take subsequent
assignments from the assignors. - ANSWERS-D. Additional
parties who might take subsequent assignments from the
assignors.
,Additional parties who might take subsequent assignments
from the assignors are protected by an assignee's notice of
assignment to the obligor.
In dealing with cases involving innocent misrepresentation,
courts
Select one:
A. Do not award money damages.
B. Award applicable punitive and compensatory damages.
C. Do not award general damages, not punitive damages.
D. Award nominal damages. - ANSWERS-A. Do not award
money damages.
The victim of an innocent misrepresentation asks a court to
rescind the contract. Courts do not award money damages
for innocent misrepresentation.
Contracts subject to the statute of frauds include
Select one:
A. Contracts that can be performed within one year and
contracts to pay one's own debt.
B. Oral promises to pay debts against a decedent's estate
and contracts for the sale of land.
, C. Contracts for the sale of an interest in land and contracts
for the sale of personal property for at least $500.
D. Contracts for the sale of land and contracts for the sale of
goods between merchants. - ANSWERS-C. Contracts for the
sale of an interest in land and contracts for the sale of
personal property for at least $500.
Contracts for the sale of an interest in land and contracts for
the sale of personal property for at least $500, plus
agreements that cannot be performed within one year,
agreements to pay a debt owed by another person, and
agreements in which an executor of an estate promises to
pay estate debts from personal funds.
Andrew promised Katy he would roof her house on October
30. On October 15, Andrew told Katy he could not find the
correct shingles and stated he was probably going to be too
busy to do the job. Andrew has
Select one:
A. Not repudiated the contract.
B. Voided the contract.
C. Breached the contract.
D. Rescinded the contract. - ANSWERS-A. Not repudiated
the contract.
PERSPECTIVE EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2026
Ray sells a schooner to Catherine. The bill of sale indicates
the price of the schooner as well as the make, model, and
year of the boat. Catherine later claims in a lawsuit that Ray
had promised to include communications and computer
equipment in the sale, and she attempts to support her
claim in court with a letter written by Ray. Ray wrote and
signed the letter before the date of the final bill of sale, in
which he promised to include the claimed items. Under the
parol evidence rule, the contract
Select one:
A. Will be modified to add only the letter written and signed
before the date of the final bill of sale.
B. Includes all documents relating to the sale including the
letter Ray wrote prior to the sale.
C. Will become voidable due to the parol evidence rule.
,D. Will not include the letter because the letter cannot be
admitted into evidence. - ANSWERS-D. Will not include the
letter because the letter cannot be admitted into evidence.
The parol evidence rule will prevent the inclusion of the
letter Ray wrote prior to the sale and the contract will not
be modified. The parol evidence rule is based on the
assumption that all prior negotiations, conversations, and
agreement were merged into the final, written contract
which became the complete statement of Ray's and
Catherine's intent.
An assignee's notice of assignment to the obligor on the
contract also protects
Select one:
A. All beneficiaries of the assignment.
B. Innocent parties indirectly affected by the assignment.
C. Any parties injured by the assignment.
D. Additional parties who might take subsequent
assignments from the assignors. - ANSWERS-D. Additional
parties who might take subsequent assignments from the
assignors.
,Additional parties who might take subsequent assignments
from the assignors are protected by an assignee's notice of
assignment to the obligor.
In dealing with cases involving innocent misrepresentation,
courts
Select one:
A. Do not award money damages.
B. Award applicable punitive and compensatory damages.
C. Do not award general damages, not punitive damages.
D. Award nominal damages. - ANSWERS-A. Do not award
money damages.
The victim of an innocent misrepresentation asks a court to
rescind the contract. Courts do not award money damages
for innocent misrepresentation.
Contracts subject to the statute of frauds include
Select one:
A. Contracts that can be performed within one year and
contracts to pay one's own debt.
B. Oral promises to pay debts against a decedent's estate
and contracts for the sale of land.
, C. Contracts for the sale of an interest in land and contracts
for the sale of personal property for at least $500.
D. Contracts for the sale of land and contracts for the sale of
goods between merchants. - ANSWERS-C. Contracts for the
sale of an interest in land and contracts for the sale of
personal property for at least $500.
Contracts for the sale of an interest in land and contracts for
the sale of personal property for at least $500, plus
agreements that cannot be performed within one year,
agreements to pay a debt owed by another person, and
agreements in which an executor of an estate promises to
pay estate debts from personal funds.
Andrew promised Katy he would roof her house on October
30. On October 15, Andrew told Katy he could not find the
correct shingles and stated he was probably going to be too
busy to do the job. Andrew has
Select one:
A. Not repudiated the contract.
B. Voided the contract.
C. Breached the contract.
D. Rescinded the contract. - ANSWERS-A. Not repudiated
the contract.
