B - ✔✔The voluntary transfer of a contractual right to a third party is known as a(n):
a.
implied warranty.
b.
assignment.
c.
delegation.
d.
novation.
D - ✔✔A(n) ____ is a method of discharging a contract in which a third party becomes
bound upon a promise to the obligee.
a.
assignment
%
b.
delegation
c.
partial assignment
d.
novation
A - ✔✔A(n) ____ is a third party who obtains possible benefits but no rights under a
contract.
a.
incidental beneficiary
b.
intended beneficiary
c.
assignor
d.
donee beneficiary
, D - ✔✔A(n) ____ is an intended beneficiary of a contract who receives the benefits of
the contract as a gift.
a.
incidental beneficiary
b.
intended beneficiary
c.
assignor
d.
donee beneficiary
A - ✔✔Anita owes Brad $75,000. Brad signs a written statement granting Glen a
gratuitous assignment of his rights from Anita. Brad delivers the signed statement to
Glen before Brad dies.
a.
The delivery of the statement makes the assignment irrevocable.
b.
%
The assignment is terminated upon Brad's death.
c.
The signing of the statement makes the assignment irrevocable.
d.
The assignment is invalid, because it is revocable
D - ✔✔Which of the following duties would not be delegable?
a.
John has a contractual duty to pay Isaac $50.
b.
Karl has a contractual duty to deliver 50 bushels of corn to Michael by October 1.
c.
Jeffrey has a duty to mow Georgia's lawn at least once a week.
d.
Arthur has a duty to teach an accounting class at a community college during the fall
semester.
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