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10 Cards in this Set

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  • Back
What is the parol evidence rule?
If you have a written K you cannot contradict it with oral evidence
what must a K state in or order to not be changed?
It must state that it is complete and final
What are some exceptions of the parol evidence rule?
-The K is void or voidable (legal excuses apply)
-To fill in a missing part of the K
-Under UCC, prior dealings, course of performance
What is under the Privity K rule?
only parties to a K, have rights to a K
Are K assignable?
K are generally assignable - can be sold to someone else
When can rights not be assigned?
when statute prohibits assignment
when K itself prohibits assignment
When K is personal in nature (requires skill, expertise, knowledge)
When assignment will materially increase or alter the risk of duty of the obligor (must be a significatn change)
How does an anti assignment clause effect Money?
you cannot prohibit the assignment of money because it is impersonal
Assignment can be oral but what 2 types must be in writing?
Real estate and accounts receivable of more than $5000
In every K each party has rights and duties, what are they?
Rights can be assigned and duties can be delegated
What is true about an incidental beneficiairy
they do not have any legal weight if they are incidentall a 3rd party