17. All parties to a contract muss sign the \"writing\" in order for the \"Statu

Question

17. All parties to a contract muss sign the "writing" in order for the "Statute of Frauds" to be satisfied. T/F 18. Whenever a written agreement under the "Statute of Frauds", contains a serious, and obvious, typographical error, parol evidence is admissible to demonstrate that the error was indeed an error, as well as to set forth the proper term. T/F 19. Privity of contract is usually required in order for a party to be bound to a contract or have rights under a contract. T/F 20. When an "assignor" transfers his/her rights to an "assignee", the "assignor" still retains the right to collect on the contract. T/F 21. If a contract states " I assign all of my rights under the contract", in most cases the assignment will be considered and assignment of rights but not duties. T/F 22. In determining whether a party is an "incidental or intended" beneficiary, factor courts consider is whether the contract directly states that the third party is the benefitting party. T/F 23. Under ordinary circumstances, a party's duty to perform a promise agreed to in a contract is absolute. T/F 24. Compensatory damages are the most prevalent damages awarded in a Breach of contract law suit. T/F 25. An court order requiring a party to fulfill the terms of the agreement is calle "specific performance". T/F

Explanation / Answer

Solution:-

17. All parties to a contract muss sign the "writing" in order for the "statute of frauds" to be satisfied:-

False.

Explanation:- While it is standard for both parties to sign the agreement, because the writing is being offered as proof of an agreement, only the party against whom action is sought needs to have signed it.

18. Whenever a written agreement under the "statute of frauds" contains a serious, and obvious, typographical error, parol evidence is admissible to demonstrate that the error was indeed an error, as well as to set forth the proper term"-

True.

19. Privity of contract is usually required in order for a party to be bound to a contract or have rights under a contract:-

False.

20. When an "assignor" transfers his/her rights to an "assignee", the "assignor" still retains the right to collect on the contract:-

False

Explanation:- when an assignor transfers her rights to an assignee, the assignor legally gives up all rights she had to collect on the contract.

Note:- As per chegg guidelines if more than four question is posted than we liable to answer only first four question.

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