Lsb 3213 exam 4 stuvia - Study guides, Class notes & Summaries

Equal Dignity Rule - ANSWERSrequires that if the contract being executed is or must be in writing, then the agent's authority must also be in writing. Assignments covered by the Statute of Frauds-such as an assignment of an interest in land must be in writing to be enforceable. Assignor - ANSWERSparty assigning the rights to a third party Assignee - ANSWERSparty receiving the rights. The transfer of contractual rights to a third party is known as an - ANSWERSassignment (occuring after ...

A condition precedent must be met before a party's performance can be required. - ANSWERSTrue A party normally satisfies its duties under a contract by novation. - ANSWERSFalse Complete performance occurs when conditions in a contract are - ANSWERSfully satisfied. Performance that provides a party with most of the benefits of a contract, in spite of a deviation from the terms, is - ANSWERSsubstantial performance. An intention variation from a contract prevents substantial performanc...