True or False? Explain?

45/ Courts enforce exemption clauses because it is assumed that they reflect the will of the parties to the contract

46/ A breach of a condition will bring the contract to an end

47/ Ratification of a contract can take place by the principal knowingly taking a benefit under the contract

48/ Jim made an innocent misrepresentation about a car he sold to Bill. Later he found out about his mistake. Jim is under no obligation to tell Bill about the mistake because caveat emptor applies

49/ Jim sold his dump truck that he used to haul gravel because he could no longer afford the gas to operate it at a profit. As a result, he could no longer honour the contract he had with Smith Gravel. This is an example of frustration and the contract is no longer enforceable

50/ Bill offered a reward for the return of his dog. Frank found the dog and returned it and later found about the reward. Frank would be able to claim the reward from Bill

51/ Persons other than the parties to a contract are entitled to sue under the contract if they prove that they are the beneficiary under the contract

52/ A seal on a contract takes the place of consideration

53/ An offer is terminated when the subject matter of the offer is sold to a third party

54/ Negligent misrepresentation is intentionally misleading another person into a contract

55/ When there is clear evidence that both parties agreed to something different than what was in the written document, and the courts void the contract, the legal principle applied is consenses

56/ Courts are more likely to enforce exculpatory clauses where the parties to the contract are of unequal bargaining power

57/ A condition subsequent is an example of a contract being ended by agreement

58/ Privity of contract does not apply to consumer transactions

59/ A brach of warranty in a contract allows the innocent party to repudiate the contract in its entirety

60/ A contract is frustrated when an unforeseen event makes performance impossible

61/ With regard to contracts, rescission is an attempt by the courts to put the parties in the position they were in before the contract was signed

62/ With regard to contracts, damages are an attempt by the courts to put the parties in the position they were in before the contract was signed

63/ When goods are bartered for other goods the Sale of Goods Act does not apply

64/ Risk refers to potential loss due to the destruction or damage of the goods

65/ The Sale of Goods Act in Ontario applies to both goods and services

66/ When the sale of goods is involved and a specific price has not been agreed upon a reasonable price must be paid

67/ With regards to the Sale of Goods Act, fitness means that the goods must perform under normal operating condition

68/ The general rule is that risk follows title

69/ When goods are traded for other goods the Sale of Goods Act does not apply