100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
UGBA 175 Midterm 2 Written Exam 2024. $10.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. UGBA
  4.  
  5. UGBA

Exam (elaborations)

UGBA 175 Midterm 2 Written Exam 2024.
 9 views  0 purchase
  • Course
  • UGBA
  • Institution
  • UGBA

UGBA 175 Midterm 2 Written Exam 2024. Types of Statute of Frauds Contracts - correct answer Surety Executor-Administrator Marriage Consideration Land Interest Transfer Goods $500+ Contracts that cannot be fulfilled within a year Suretyship - correct answer Undertaking to pay the debt or ...

[Show more]

Preview 2 out of 5  pages

Document information

  • April 23, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ugba 175 midterm 2
  • ugba 175 midterm 2 written exam 2024

Written for

  • UGBA
All documents for this subject (267)

Seller

avatar-seller
ROSEGRADES

Reviews received

Content preview

UGBA 175 Midterm 2

Types of Statute of Frauds Contracts - correct answer Surety

Executor-Administrator

Marriage Consideration

Land Interest Transfer

Goods $500+

Contracts that cannot be fulfilled within a year



Suretyship - correct answer Undertaking to pay the debt or be liable for the default of another



Executor-Administrator - correct answer Contractual promises of an executor of a decedent's will to
answer personally for a duty of the decedent



One-year provision - correct answer Contractual obligations that CANNOT be fulfilled within a year of
AGREEMENT



Possibility Test - correct answer CAN the contract be fulfilled within 1 year? Death is included, therefore
need not be written

Contracts of indefinite duration are excluded



Sale of Goods - correct answer Goods sold for $500 or more must be in writing



Specially Manufactured Goods - correct answer Oral contracts are enforced for substantial performance
on specially manufactured goods



General Contract Provisions (Common Law) - correct answer Specify parties

Specify subject matter

Essential terms of unperformed obligations

, Signed by defendant



Contract Provisions (UCC) - correct answer Specify quantity

Sufficient to indicate that contract has been made

Signed by party against whom enforcement is sought



Restitution - correct answer Even if the contract is not in writing, if a party acts in reliance upon the
contract, they may recover in restitution the benefits he conferred upon the other in relying upon the
unenforceable contract



Parol Evidence Rule - correct answer When a contract is expressed in a writing that is intended to be the
complete and final expression of the rights and duties of the parties, parol evidence of prior oral or
written negotiations or agreements of the parties, or their contemporaneous oral agreements that vary
or change the written contract, are not admissible



Only applies to written contracts



Assignment of Rights - correct answer the voluntary transfer to a third party of the rights arising from the
contract; and effective assignment terminates the assignor's right to receive performance by the obligor



Delegation of Duties - correct answer a transfer to a third party of a contractual obligation.



Law Governing Assignments - correct answer May be oral

No consideration required

Gratuitous assignments are unenforceable



Rights that are not Assignable - correct answer Assignments that Materially Increase the Duty, Risk, or
Burden

When the assignment would significantly change the nature or extent of the obligor's duty

2) Assignments of Personal Rights

When the rights under a contract are highly personal, in that they are limited to the person of the
obligee, such rights are not assignable

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ROSEGRADES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79650 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.99
  • (0)
  Add to cart