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FiveStarLaw
FiveStarLaw, Lawyer, Accountant & Researcher
Category: Business and Finance Homework
Satisfied Customers: 36494
Experience:  25 years of experience helping people like you.
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Hey could you tell me when you are on. I have some quesions

Resolved Question:

Hey could you tell me when you are on. I have some quesions I want to ask you but I want tto make sure you are on.

Submitted: 11 months ago.
Category: Business and Finance Homework
Expert:  FiveStarLaw replied 11 months ago.
Good Morning

Good to hear from you. I am on line now
Customer: replied 11 months ago.

 








1. All goods other than those existing and owned by a seller at the time of a transaction are called (Points : 2)

existing goods.
tangible goods.
future goods.
intangible goods.















2. A contract is essentially an agreement that creates an obligation. (Points : 2)

True
False

 















3. Undue influence will typically arise in situations in which there is some sort of family or fiduciary relationship between the parties. (Points : 2)

True
False

 















4. Mistakes in judgment as to value or quality will permit one to avoid a contract. (Points : 2)

True
False

 















5. A writing that satisfies the requirement of a writing under the statute of frauds could be evidenced by (Points : 2)

a note.
a memorandum.
a contract.
all of the above

 















6. A party to a contract may be: (Points : 2)

an individual.
a partnership.
a corporation.
all of the above.

 















7. A contract involving both services and goods is classified as a contract for the sale of goods if (Points : 2)

the services are to be performed upon the goods.
the services cannot be performed unless the goods are supplied.
no charge is made for the services.
the sale of goods is the dominant aspect of the transaction.

 















8. To exercise the power of acceptance, an offeree must accept unequivocally. (Points : 2)

True
False

 















9. To have a contract you must have: (Points : 2)

an offer.
an acceptance.
both an offer and an acceptance.
an agreement manifested by the written or spoken words of the parties.

 















10. An adult may disaffirm a contract entered into with a minor. (Points : 2)

True
False

 















11. A bilateral contract consists of a: (Points : 2)

promise for an act.
promise for refraining from acting.
promise for a promise.
promise to contract.

 















12. If an acceptance materially changes an offer, the acceptance may be held to implicitly reject the offer. (Points : 2)

True
False

 















13. Agreement is usually evidenced by an offer and an acceptance. (Points : 2)

True
False

 















14. An acceptance must be absolute and unconditional. (Points : 2)

True
False

 















15. A counteroffer terminates an offer. (Points : 2)

True
False

 















16. If the subject matter of a contract turns out to be more valuable than one of the parties believed it would be, that party can rescind the contract. (Points : 2)

True
False

 















17. In general, an acceptance occurs when: (Points : 2)

a particular form of words is stated to the offeror.
a particular mode of expression is made to the offeror.
the offeree reserves the right to reject the offer.
a clear expression of acceptance occurs.

 















18. A minor's right to disaffirm a contract terminates automatically when the person reaches the age of majority. (Points : 2)

True
False

 















19. An apparently voluntary agreement may in fact not be voluntary if: (Points : 2)

undue influence is present.
physical duress is present.
economic duress is present.
all of the above.

 















20. When a statute protects a certain class of people, a member of that class cannot enforce an illegal contract. (Points : 2)

True
False

 















21. An oral contract can be enforced when it relates to (Points : 2)

the purchase of a television set for $200.
the sale of an interest in land for $400.

managing a factory for five years.
a promise to answer for the debt of another.

 















22. An expression of opinion will be considered a valid offer. (Points : 2)

True
False

 















23. Generally, when a person of legal age makes a contract with a minor, the contract is voidable by either party. (Points : 2)

True
False

 















24. A person seeking to void a contract based on intoxication must show that he or she was so intoxicated as to fail to comprehend the legal consequences of entering into the contract. (Points : 2)

True
False

 















25. Fred offers to buy a laser printer, with a case of paper and an extra cartridge, from Gary for $200. Gary says, "OK, but no paper and no extra cartridge." Gary has (Points : 2)

accepted the offer.
rejected the offer.
made a counteroffer.
both b and c.

 















26. Oscar offers Edward $100 for his $500 leather coat. Edward knowingly and voluntarily agrees to the offer. A court would probably (Points : 2)

set aside the agreement as unfair.
set aside the agreement because the consideration is inadequate.
not question the adequacy of the consideration.
consider such a suit to be frivolous.

 















27. Article 2 of the Uniform Commercial Code applies to the sale of (Points : 2)

corporate stocks.
U.S. Treasury bonds.
goods.
insurance policies.

 















28. Fraud requires a misstatement of either a fact or opinion. (Points : 2)

True
False

 















29. Revocation normally must be communicated to the offeree before acceptance or else it will be ineffective. (Points : 2)

True
False

 















30. A person who enters into a contract when he or she is intoxicated can void the contract if the terms are obviously favorable to the other party. (Points : 2)

True
False
Expert:  FiveStarLaw replied 11 months ago.
Thank you. What is the deadline?
Customer: replied 11 months ago.


I have an hour

Expert:  FiveStarLaw replied 11 months ago.
no problem
Expert:  FiveStarLaw replied 11 months ago.

Hi,

Here are my answers for comparison with your own:

http://www.mediafire.com/download/wecwazsnp9e4d44/allaboutme.docx

I would be glad to continue our conversation and respond to any follow-up questions that you may have.
Customer: replied 11 months ago.


Thank You


 

Expert:  FiveStarLaw replied 11 months ago.
Thank you – please let me know how we score
Customer: replied 11 months ago.


I can't see the answers - all I see is the questions


 

Expert:  FiveStarLaw replied 11 months ago.
Are you on a cell phone?
Customer: replied 11 months ago.


No I am on my ipad


 

Expert:  FiveStarLaw replied 11 months ago.

You must not be able to see the highlighting on the iPad. Let me modify the document and repost
Expert:  FiveStarLaw replied 11 months ago.

I removed the incorrect answers and left only the correct answer remaining

http://www.mediafire.com/?wecwazsnp9e4d44
FiveStarLaw, Lawyer, Accountant & Researcher
Satisfied Customers: 36494
Experience: 25 years of experience helping people like you.
FiveStarLaw and other Business and Finance Homework Specialists are ready to help you
Expert:  FiveStarLaw replied 11 months ago.
How did we do?

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