Mixed

Question 1

May a warranty of fitness for a particular purpose be disclaimed?

Answer 1

Yes, only by a conspicuous writing.

Question 2

T or F - Under the statute of frauds, if there are two writings, they must refer to each other in order for a contract to be formed.

Answer 2

True.

Question 3

Can you assign contract rights and delegate duties?

Answer 3

In general, yes, unless the other party has a substantial interest in having the previous party perform the contract.

Question 4

What is the general rule for UCC risk of loss?

Answer 4

The risk of loss is on the merchant seller until the buyer takes possession of the goods. Except where the buyer is in breach of contract and the seller lacks insurance.

Question 5

If a contract does not specify how it can be accepted, how can it be accepted?

Answer 5

Either by beginning performance or by offeree’s promise to perform.

Question 6

When can there be third party liability?

Answer 6

3rd party must be a VESTED + INTENDED beneficiary. The intention can be implicit or explicit.

Question 7

When do a 3rd party beneficiary’s rights vest?

Answer 7

1) They detrimentally rely on the rights created
2) they manifest assent to the contract at one of the party’s request
3) they file a lawsuit to enforce the contract.

Question 8

Who can void a contract with a minor?

Answer 8

Only the minor.

Question 9

Is a contract for a car one for necessities?

Answer 9

no.

Question 10

When does a seller have the right to cure defective tender under the UCC?

Answer 10

1) The seller had reasonable grounds to believe that the buyer would accept nonconforming goods.
2) The time for performance under the K has not yet lapsed.