Contract Law Study guides, Class notes & Summaries

A(n) __________ is a contract by which an obligee promises to accept a stated performance in satisfaction of the obligor's existing contractual duty correct answers accord Which type of condition is more common? correct answers conditions precedent are common in contracts A(n) __________ is a substituted contract that involved an agreement among three parties to substitute a new promise for the existing promise or to replace the existing promisor with a new one. correct answers novation ...

What is the importance of the Treaty of Rome (1957) on the Data Protection Directive and the GDPR? - Answer- Allowed the Data Protection Directive and GDPR to be setup as harmonization for European member states. How many member states in the European Union? - Answer- 28 member states What is the European Economic Area composed of? - Answer- EU member states + Iceland + Liechtenstien + Norway What are the key characteristics of the Data Protection Directive? - Answer- - Places obligatio...

AFSB 151 EXAM REVIEW QUESTIONS & ANSWERS/ GRADED A+ Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? A. Sureties were protected by laws that were favorable to them. B. This form of suretyship was subject to statutory law. C. This form of suretyship was subject to common law.Incorrect. Under American personal suretyship, sureties were protected by laws that were favorable to them. D. Surety bonds were required to...

Chapter 1: An Introduction to Taxation and Understanding the Federal Tax Law  Different types of taxes: o Property - ad valorem, based on the value of the asset. Realty: land and building. Personalty: all other tangible o Excise - restricted to specific items, extra sales tax on tobacco or gasoline o General Sales Tax - use tax on items used in other states but used in their jurisdiction. Currently the jurisdiction of states and localities (Wayfair v South Dakota) o Severance - tax o...

What word equates to the term "RESPONSIBILITY" as it is used in the insurance business? - ️️- Liability. What are 3 categories used to classify the way in which the law imposes liability? - ️️- Negligence. - Nuisance. - Breach of contract. What is a TORT? - ️️- A civil wrong or injury recognized under the law such as: - Negligence and nuisance, but not a breach of contract. - Whereby an injured party acquires the right to sue the defendant, usually for a court award in t...

AFSB 151 1: Principles of Suretyship Exam Questions and Answers surety - ANS ️️ Third party agreeing to be primarily liable for debt in case of default by the principal debtor principal - ANS ️️ bonded person the has the duty to perform obligee - ANS ️️ receives the guarantee from the surety that the principal will perform contract surety bond - ANS ️️ classification of bonds that guarantee the performance of the bonded contractor commercial bonds - ANS ️️ guarantee ...

CE Shop National Exam 2024 Latest Guide with complete solutions;actual questions and answers solved 100% Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 states that its purpose, in part, is to require that real estate appraisals used in connection with federally related transactions be performed ______. By licensed real estate professionals By members of the Appraisal Foundation In the most expeditious and inexpensive way possible In writing, a...

Florida Life & Health Practice Test (Questions and Answers, 100% Correct) Updated 2023/2024 T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? $0 Which statement regarding the Change of Beneficiary provision ...

CDFM - Module 3 What are the three tests that must be met for use of the Necessary Expense doctrine? - Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budgetary resources remains available for new obligations for more than one fiscal year? - Mult...

The FAR is prepared, issued, and maintained by: a. The Executive Office of the President. b. The Office of Management and Budget and the General Services Administration. c. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. d. The National Contract Management Association. - c. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space ...