AIC 301 EXAM QUESTIONS AND ANSWERS LATEST
VERSION (ALREADY GRADED A+)
Assignment of contracts
Transfer of contract rights to third parties
Executory contract
Contract partially unfulfilled by parties
Executed contract
Contract fully performed by both parties
Ambiguity in insurance policy
Courts interpret to align with parties' intentions
Breach of contract
Failure to deliver on agreed terms
Handwriting vs. typewriting
Handwriting prevails in contract discrepancies
Consequential damages
Indemnify for indirect losses from a breach
Oral evidence in contracts
Allowed for interpreting ambiguous terms
Creditor beneficiary
Third-party owed a debt in a contract
Anticipatory repudiation
Stated refusal to fulfill contract terms
Parol evidence rule
Prevents admission of prior agreements
Innocent misrepresentation
Misleading without intent to deceive
Affirmative Warranty
States specific facts exist at contract formation
VERSION (ALREADY GRADED A+)
Assignment of contracts
Transfer of contract rights to third parties
Executory contract
Contract partially unfulfilled by parties
Executed contract
Contract fully performed by both parties
Ambiguity in insurance policy
Courts interpret to align with parties' intentions
Breach of contract
Failure to deliver on agreed terms
Handwriting vs. typewriting
Handwriting prevails in contract discrepancies
Consequential damages
Indemnify for indirect losses from a breach
Oral evidence in contracts
Allowed for interpreting ambiguous terms
Creditor beneficiary
Third-party owed a debt in a contract
Anticipatory repudiation
Stated refusal to fulfill contract terms
Parol evidence rule
Prevents admission of prior agreements
Innocent misrepresentation
Misleading without intent to deceive
Affirmative Warranty
States specific facts exist at contract formation
