Refer to Fact Pattern 12-1

question 179

Multiple Choice

Refer to Fact Pattern 12-1. When Fidelity was deciding whether or not to lend Gena money, which of the following resources could it have possibly used?

• A) a pasta maker's trade association, if Gena was a member
• B) Gena's financial statements
• C) records of her transactions with other banks
• D) reports from credit agencies
• E) any or all of these

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Definitions:

Partially Integrated Contract

A written contract that represents some, but not all, of the terms agreed upon by the parties.

Ambiguous Term

A word or phrase that can be understood in more than one way, leading to uncertainty or varying interpretations.

Party to be Charged

The individual or entity against whom legal action is taken or who is required to fulfil an obligation.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the parties involved, to be enforceable.