How does ratification affect the rights and obligations of the principal and the agent in relation to each other?

Give five (5) examples of instruments which may be reformed. (b) In the above examples, who are the parties who can bring the action for reformation of the instrument?

Partnership agreements can be modified:   (A) Only with prior approval from the IRS. (B) At any time if agreed to by all partners, for both formal written agreements or informal agreements. (C) Only in writing, regardless of whether the partnership agreement is formal or informal. (D) If more than 75% of the partners agree to the modifications to the agreement

Pick the right option   What is the term the Uniform Commercial Code (UCC) gives to a person who seeks to enforce a negotiable instrument that is lost, stolen, or destroyed?   -Beneficiary -Non-holder

explain the following terms in your own words and understanding and give specific examples. - Obligations - Contracts - Law - Quasi-Contracts -  Quasi-Delicts

Option A is not the answe

Describe in what kind of situations the United Nations Convention on Contracts for the International Sale of Goods (CISG) becomes applicable

If a minor purchase a $150.00 pair of designer blue jeans the merchant may be unable to enforce this contract because:     a)  the jeans were a necessity.   b)  clothes are a statutory contract.   c)  designer jeans are a luxury.   d)  only emancipated minors wear jeans.  2. An adult who intentionally drinks so much liquor as to have their judgment impaired will     a)  easily defeat a contract they entered in to while drunk   b)  have no chance of winning under any circumstances.   c)  probably lose, voluntary intoxication is usually a poor defense.   3. Which of the following must a person possess to have contractual capacity?   a)  Comprehend the nature of the Contract   b)  Comprehend the purpose of the Contract   c)  Comprehend the consequences of the Contract   d)  All of the above are required

A party contracts to guaranty the collection of the debts of another. As a result of the guaranty, the creditor, upon debtor's default, can immediately proceed against the guarantor without further notice.  T/F?