BUS 230 BUS230 Module 4 Homework Assignment (Allied American University)

BUS 230 BUS230 Module 4 Homework Assignment (Allied American University)

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BUS 230 Module 4 Homework Assignment (Allied American University)

PART I

1.What is the parol evidence rule?

2.When will a court allow parol evidence?

3.What is the statute of frauds?

4.When does it apply?

5.Why is it important?  

6.Research your state’s statute of frauds.  What types of contracts are required to be in writing according to your state’s statute of frauds?  Please make sure to include which state you research.

7.How is real property different from personal property?  Give several examples of each. 

8.Find a prenuptial agreement online.  What provisions are included in your example?

9.Is it important to have a prenuptial in today’s society?  

10.Why and who may want to gain one prior to marriage? 

11.What does it mean when a party to a contract assigns their rights?  

12.Who is the assignor? 

13.Who is the assignee? 

14.Who is the obligor?  

15.Why would someone want to assign their contractual rights over to another person?

16.What does it mean when a party to a contract delegates their obligations?  

17.Who is the delegator?  

18.Who is the delegate?  

19.Who is the obligee?  

20.Mr. Long executed the following legal document: "In consideration for goods sold to me on account by George Northman, I hereby transfer to George Northman all claims I may have against H. Hall arising from his debt of $1,500 to me."  (Signed) Thomas Long, March 21, 2004

21.How does the possibility of performance relate to the One Year Rule under the statute of frauds? 

22.Thompson, the owner of a successful floral shop, orally promised Franks, an experienced floral arranger, a bonus of $10,000 and a monthly salary if Franks would work for Thompson for two years.  The bonus was to be paid at the end of the two-year period.  Franks actually did work for the full term of the oral agreement.  Will the statute of frauds prevent Franks from collecting the bonus?  Why or why not?

23.Cancho assigned to Plonski the right to collect $500 from Pitt.  Pitt, who was not notified of the assignment, paid the $500 to Cancho.  Can Plonski collect the $500 from Pitt? Why or why not?

24.Discuss the term e-signature, name the contracts that are not valid when signed with an e-signature, and the media through which an e-signature can satisfy the written requirement of a contract.   

PART II

 

Module 4 Journal Assignment

Directions:  In this module, we learned that duties that require a special talent may not be delegated without the permission of both parties to the contract.  Why do you suppose this is the case?  What issues can you foresee with allowing these duties to be delegated? 


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