BUSINESS

Question 14

1.      Blue laws are uniform across all states in the country.

True

False

2 points

 

Question 15

1.      Erik filed a case in a municipal court against Leela for a minor criminal violation. Dissatisfied with the decision of the court, Erik can now appeal the case in a court of record.

True

False

2 points

 

Question 16

1.      Consideration can have legal value if the promisee:

does not involve in an act in the case of unilateral contracts.
does something he or she had no prior legal duty to do in exchange for the promisor’s promise.
agrees to do something he or she has a legal right to do in exchange for the promisor’s promise.
does not give up something in exchange for the promise made by the promisor.

2 points

 

Question 17

1.      A party that enters into an illegal contract can recover the considerations given if the party:

reports the illegal act to law enforcement after committing it.
rescinds the contract before any illegal act has been performed.
demonstrates an unequal bargain due to the illegal contract.
rescinds the contract immediately after the illegal act has been performed.

2 points

 

Question 18

1.      A common defense to the tort of interference with contract is:

lack of capacity.
privilege.
probable cause.
inducing a breach of contract.

2 points

 

Question 19

1.      A building that deviates slightly from the contract’s specifications does not qualify as substantial performance.

True

False

2 points

 

Question 20

1.      A counteroffer:

impliedly rejects an offer.
does not affect the material terms of the contract.
is a mirror-image of the offer.
is an inquiry into the terms of the offer.

2 points

 

Question 21

1.      A contract is implied when the parties directly state its terms at the time the contract is formed.

True

False

2 points

 

Question 22

1.      A consumer who misuses a product:

can hold the manufacturer liable even if the manufacturer uses a defense of strict product liability by knowingly assuming an obvious risk of injury by the consumer.
may not recover under the theory of strict liability.
will recover under the theory of strict liability if the misuse was not foreseeable.
cannot hold the manufacturer liable for not designing the product so that it could not be altered even if the danger it created was foreseeable.

2 points

 

Question 23

1.      A conditional sales contract is an example of a(n):

chattel paper.
document of title.
negotiable instrument.
investment property.

2 points

 

Question 24

1.      Assignments of future wages are not effective because:

they involve personal relationships.
they are contrary to public policy.
they materially alter the duties of the promisor.
they involve personal rights.

2 points

 

Question 25

1.      Bella is Ming’s babysitter. She takes Ming to the amusement park for a roller coaster ride. Due to the intensity of the ride, Ming, who has an especially weak heart, dies of a heart attack during the ride. Which of the following concepts best fits Bella’s act of negligence?

Proximate cause
Negligence per se
Breach of duty
Principles of causation

2 points

 

Question 26

1.      If Gwen hands Lisa a detailed offer for the purchase of Lisa’s pottery wheel and Lisa signs the offer without changing any of its terms, the parties have created a:

bilateral contract.
contingent contract.
unilateral contract.
multilateral contract.

2 points

 

Question 27

1.      A buyer is considered to have accepted a whole commercial unit of goods if:

the buyer pays for the goods before inspecting them.
the buyer accepts any part of the commercial unit.
the seller delivers even part of the commercial unit.
the seller delivers all the goods in the commercial unit.

2 points

 

Question 28

1.      A clothing store has opened a credit account in which Judy, a college student, gets Alice, her older sister, to agree to pay the amount owed on the account if Judy fails to do so. Which of the following statements is true of this scenario?

Judy is the obligor, and she is secondarily liable to the clothing store.
Alice is the guarantor, and she is primarily liable to make the payments.
Judy is the obligor, and she is contractually liable to the guarantor.
Alice is the guarantor, and Alice’s contract must be in writing to be enforceable.

2 points

 

Question 29

1.      Beck tells his mom that he is thinking of selling his vintage coupe to his neighbor, Sam, for $100. Beck’s mom calls Sam and tells him about her conversation with Beck. Sam then calls Beck and tells him that he accepts his offer. Under these circumstances, _____.

this is a contract
the offer has been conditionally tendered
the offer has not been communicated
the offer violates the UCC’s rule against third-party interveners in quasi contracts

2 points

 

Question 30

1.      According to the Fair Credit Billing Act (FCBA), if the credit card holder thinks that the card issuer has made an error on the statement, he has _____.

90 days from the time the card was issued to report, in writing, the error
30 days from the time the statement was mailed to report the error
120 days from the time the statement was mailed to report, in writing or orally, the error
60 days from the time the statement was mailed to report, in writing, the error

2 points

 

Question 31

1.      A buyer is _____ if he cannot pay his bills when they become due.

unconscionable
liquidated
unaccountable
insolvent

2 points

 

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