which of the following is true? a.When what is to be delivered is a generic thing, the creditor may ask a person other than the debtor to perform the obligation. b.Dolo incidente relates to the fraud committed at the time of the perfection of a contract. c.When negligence is imputed as a cause for the breach in an obligation, the same is presumed.

which of the following is true? a.When what is to be delivered is a generic thing, the creditor may ask a person other than the debtor to perform the obligation. b.Dolo incidente relates to the fraud committed at the time of the perfection of a contract. c.When negligence is imputed as a cause for the breach in an obligation, the same is presumed.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter4: Professional Legal Liability

Section: Chapter Questions

Problem 8CYBK

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TRUE or FALSE 1. Statute of Fraud requires that certain executed contracts must be reduced into writing to prevent the commission of fraud. 2. Annulment of the contract is the proper remedy if the contract does not reflect the real intention of the parties and the element of the consent is already present. 3. Automatic transfer of ownership from the creditor to the debtor which is prohibited by law is also known as pactum commissorium. 4. Stipulation pour autrui applies only to executory contracts. 5. Mutual promise to marry which was reduced into writing is enforceable. 6. As a rule, a contract entered into by a guardian on behalf of a minor is rescissible.
The following are grounds for liability to pay damages, except: a. Negligence b. Fraud c. Contravention of the tenor of the obligation d. Advance
Suppose the obligation of the debtor is to do something and he fails to do it or performs it in contravention of the agreement, what are the the remedies available to the creditor?
TRUE OR FALSE 1) A contract procured by fraud during face to face negotiations with an impostor is void. 2) A contract procured by fraud by mail with an impostor is voidable. 3) A usurious loan is a valid loan.
What is/are the rule/rules (and the exceptions, if there be any) in case an object is lost or damaged due to fortuitous event, particularly as to the liability of the debtor in an obligation. Give specific examples for your answers.
Which of the following statements is incorrect? O a. If the occurrence of the obligation is in doubt, there is no need to account for the liability. O b. A liability is a present obligation, arising from past transaction, which probably has to be paid. O c. Damages awarded by court against the business may be ignored because it will be appealed. O d. A liability has to be accounted for at the best reliable estimate even if the amount is not certain.
What is the knowing misrepresentation of the truth in order to trick someone into entering into a contract? Fraud O Duress O Embezziement Mistake
Which type of agent is not liable for a breach of contract by his principal: a. undisclosed agent b. partially disclosed agent c. fully disclosed agent d. all of the above
What is/are the rule/rules (and the exceptions, if there be any) in case an object is lost or damaged due to fortuitous event, particularly as to the liability of the debtor in an obligation.
May an action arising from fraud be waived? explain
The following are causes of extinguishment of a contract of deposit EXCEPT: a. Death of either party in case of onerous deposit b. Loss or destruction of thing deposited without fault of the depositary c. Payment of principal obligation d. Novation
Which of the following statements is false?a. A contingent liability should be disclosed in the notes to the financial statements if thereis a reasonable possibility that a loss (or expense) will occur.b. All contingent liabilities should be reported as liabilities on the financial statements,even those that are unlikely to occur.c. A contingent liability is a potential obligation that depends on the future outcome of pastevents.d. A contingent liability should be accrued if the loss is probable and the amount of theloss can be reasonably estimated.