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Multiple Choice Quiz
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1
A person who must perform under a contract is a a(n) _____
A)assignor.
B)assignee.
C)obligor.
D)beneficiary.
2
Ichi names a friend, Myra, as a _____ beneficiary on his life insurance policy.
A)creditor
B)donee
C)incidental
D)death
3
Who has the legal responsibility to give notice of an assignment?
A)assignor
B)assignee
C)obligator
D)obligatee
4
Omar, a world-famous cricket player, contracts to give cricket lessons to Alan. Omar attempts to delegate his duties under the contract to Cedrick, a competent, but not world-famous, cricket player. This delegation of duties will _____
A)be valid.
B)be valid only if Alan is a beginning cricket player.
C)not be valid if Alan and Cedrick cannot get along.
D)not be valid due to Omar's unique skills.
5
Tom's promise to repair Samantha's truck in exchange for Samantha's promise to baby sit for Tom's cousin Jane creates _____
A)an assignment.
B)a delegation.
C)a third party beneficiary contract.
D)an unconscionable contract.
6
A contract is typically not assignable if it involves _____
A)personal services.
B)the sale of goods.
C)the sale of land.
D)an oral contract.
7
Jason rented Janice's apartment under a one year lease. Six months into the lease Jason is transferred to another city but his friend Patricia needs an apartment and is willing to assume Jason's lease. What process will release Jason from any further liability under his lease with Janice?
A)An assignment by Jason to Patricia.
B)A delegation by Jason to Patricia.
C)A novation involving Jason, Patricia, and Janice.
D)Jason is liable under the end of his lease under all circumstances.
8
Tammy borrows money from Big Bank to purchase a house. She then sells the house to Felix who agrees to make the payments to Big Bank. Which of the following statements is true?
A)Tammy's agreement with Felix releases her from liability to Big Bank.
B)Big Bank may validly object to the agreement between Tammy and Felix.
C)Big Bank is a creditor beneficiary of the agreement between Tammy and Felix.
D)Tammy cannot sell the house as long as she owes Big Bank.
9
When a contract is assigned _____
A)consideration is required.
B)no person may object.
C)the assignment creates a new contract.
D)if there is no consideration the assignor may repudiate the agreement prior to its execution.
10
An assignment is valid _____
A)at the time it is made.
B)only when in writing.
C)only when notice of the assignment is given to the obligor.
D)only when the obligor consents to the assignment.





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