Ch. 12 questions

Question 1

know the difference between the “American” and “English” rule when you are given a scenario

Answer 1

American- rule which states that the first party granted the assignment is the party that is entitled to the contractual right

English- a rule which states that the first assignee to give notice of the assignment to the obligor is the party with rights to the contract

Question 2

when does the 1-year rule begin?

Answer 2

a day after the contract is created, not when it is scheduled to begin

Question 3

what do you call prenuptial agreement in Texas

Answer 3

A premarital agreement

Question 4

what contracts could you use in Statute of Frauds? Give one example

Answer 4

Promises made in consideration of marriage

Question 5

Give one exception to statute of frauds

Answer 5

admission or partial performance

Question 6

Give one exception to the Parol Evidence rule

Answer 6

contracts conditioned on orally agreed-on terms

Question 7

What do we call the main purpose rule in Texas?

Answer 7

Leading object rule

Question 8

What is the Texas exception on real property contracts?

Answer 8

A lease of property for one year or less does not need to be in writing

Question 9

For assignments and delegations, know if you’re rights go away or not

Answer 9

Assignment- transfers rights

Delegations- transfers duties

Question 10

Who can sue, intended or incidental beneficiary

Answer 10

Intended