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AIC 301 2024 STUDY SET QUESTIONS WITH ALL CORRECT ANSWERS – UPDATED!!! $13.49   Add to cart
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AIC 301 2024 STUDY SET QUESTIONS WITH ALL CORRECT ANSWERS – UPDATED!!!
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AIC 301 2024 STUDY SET QUESTIONS WITH ALL CORRECT ANSWERS – UPDATED!!! Plain Meaning Rule - Answer-Interpreting contracts based on word meanings Entire or Divisible Contract - Answer-Classifying contracts for interpretation Legal Purpose - Answer-Requirement for contracts to be legally bin...

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  • October 12, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • AIC 301
  • AIC 301

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AIC 301 2024 STUDY SET QUESTIONS
WITH ALL CORRECT ANSWERS –
UPDATED!!!
Plain Meaning Rule - Answer-Interpreting contracts based on word meanings

Entire or Divisible Contract - Answer-Classifying contracts for interpretation

Legal Purpose - Answer-Requirement for contracts to be legally binding
Bilateral Contract - Answer-Promise for a promise

Unilateral Contract - Answer-Promise for an act

Executed Contract - Answer-Fully performed contract

Voidable Contract - Answer-One party has the option to enforce or cancel

Void Contract - Answer-Not legal effect, unenforceable

Valid Assignment - Answer-Effective without obligor notification

Contra proferentum - Answer-Interpreting ambiguous language against its creator's
interests

Repudiation - Answer-Positive refusal to meet contract obligations

Novation - Answer-Substitution of a party in a contract

Nonperformance - Answer-Insurer's right against the insured for material breach

Substantial Performance - Answer-Completing primary terms of an agreement

Tender - Answer-Offer to fulfill contract duties




Executory Contract - Answer-Not fully performed by one or both parties

Implied-in-Fact Contract - Answer-Presumed intentional contract

Incidental Beneficiary - Answer-Third party benefiting unintentionally from a contract

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