Ratification involves a question of intent, and intent can be expressed only by words
Indicate whether the statement is true or false
F
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Carol Crowe and Sheryl Stowe signed astandard form bank guarantee for Joseph Fine and limited their liability to $48,000. Fine is now in default, owing $60,000 to the Bank. Which of the following is TRUE? (Ignore interest and other chargers)
A) Carol's liability is limited to $24,000 B) Carol's liability is limited to $30,000 C) Carol's liability is limited to $48,000 D) If it so chooses, the Bank can proceed against Carol only E) Both C and D
Carl, a contractor, and Lyle, a landowner, have a contract whereby Carl is to perform routine construction services according to the blueprints that Lyle has provided. Carl assigns the contract to David, a developer. As a result of this assignment:
a. Lyle can bring suit based upon detrimental reliance. b. Carl has no more rights or responsibilities with regard to the contract. c. Carl no longer has any rights under the contract, but he remains responsible for the duties he agreed to perform. d. Carl has all of his rights under the contract, but he has no responsibility for the performance of the duties.
One benefit of a lean system is that it reduces space requirements
Indicate whether the statement is true or false
If goods identified to a contract are destroyed through no fault of either party, both parties are excused from performance.
Answer the following statement true (T) or false (F)