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10 Cards in this Set
- Front
- Back
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What is the parol evidence rule?
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If you have a written K you cannot contradict it with oral evidence
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what must a K state in or order to not be changed?
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It must state that it is complete and final
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What are some exceptions of the parol evidence rule?
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-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 |
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What is under the Privity K rule?
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only parties to a K, have rights to a K
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Are K assignable?
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K are generally assignable - can be sold to someone else
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When can rights not be assigned?
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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) |
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How does an anti assignment clause effect Money?
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you cannot prohibit the assignment of money because it is impersonal
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Assignment can be oral but what 2 types must be in writing?
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Real estate and accounts receivable of more than $5000
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In every K each party has rights and duties, what are they?
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Rights can be assigned and duties can be delegated
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What is true about an incidental beneficiairy
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they do not have any legal weight if they are incidentall a 3rd party
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