West Business Law
Terms
undefined, object
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- 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