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Question 1 1. Security Guns & Ammo, Inc. tells its salespersons

Resolved Question:

Question 1
1.
Security Guns & Ammo, Inc. tells its salespersons not to load a gun during a sale. Bert, a salesperson, loads a gun during a sale. The gun fires, negligently injuring Kathy, who is in the store. Security is
Answer

not liable, because Bert was not acting within the scope of employment.

not liable, because employers are not responsible for their employees' torts.

liable under the doctrine of respondeat superior.

liable under the doctrine of res ipsa loquitur.
0.5 points
Question 2
1.
Curt, personnel director for Digital Products, Inc., prefers to hire Asian Americans, because "they're smarter and work harder" than other minorities. This is pro¬hibited by
Answer

the Age Discrimination in Employment Act of 1967.

the Americans with Disabilities Act of 1990.

Title VII of the Civil Rights Act of 1964.

none of the above.
0.5 points
Question 3
1.
Xavier and Yolanda are both merchants of goods. They agree to a contract where Yolanda promises to ship conforming goods by March 19. The shipment from Yolanda to Xavier arrives early on March 15, but several units of the goods are damaged. What is the best legal description of the legal situation between the parties?
Answer

Yolanda is in breach of contract since some of the goods delivered were damaged.

Yolanda is in breach of contract since as a merchant she made a warranty that all goods delivered would be perfect.

Yolanda will not be in breach of contract when notified by Xavier of the problem and then by Yolanda "curing" the shipment by notifying Xavier of her intent to do so and then shipping conforming goods by the 19th.

Yolanda will prevail in any legal dispute since she appears to have substantially performed the contract.
0.5 points
Question 4
1.
Poole Company enters into a contract to build a pool for homeowner for $20,000. During the construction process, Poole discovers the remnants of a big, old, partially buried, tree trunk on the property. Poole can remove it but it will add additional time and cost to the project. Accordingly, Poole asks homeowner for an extra $1000 to complete the job, which homeowner reluctantly agrees to. When the tree trunk is removed and the job is finished, Homeowner only pays the original $20,000. Poole Company sues for the promised additional $1000. The likely result of the lawsuit will be:
Answer

Poole will prevail since homeowner clearly breached the promise to pay $1000.

Poole will prevail since it is a fair result since everyone knows how difficult it is to remove old tree trunks.

Poole will prevail since $1000 was very reasonable consideration under the circumstances.

Poole will lose as it gave no new consideration for the promise to pay the additional $1000.
0.5 points
Question 5
1.
Standard Business Company agrees to hire Tim as a sales representative for six months. Their contract is oral. This contract is enforceable by
Answer

neither Standard nor Tim.

Standard only.

Standard or Tim.

Tim only.
0.5 points
Question 6
1.
Adam persuades Beth to contract for his company's services by telling her that his employees are the "best and the brightest." Adam's statement is
Answer

duress.

fraud.

puffery or sales talk.

undue influence.
0.5 points
Question 7
1.
Ace Corporation, which is based in Texas, advertises on the Web. A court in Illinois would be most likely to exercise jurisdiction over Ace if Ace
Answer

conducted substantial business with Illinois residents at its site.

interacted with any Illinois resident through its Web site at least once.

only advertised passively at its Web site.

all of the above.
0.5 points
Question 8
1.
General Construction contracts to build a store for Home Stores for $1 million. In mid-project, Home repudiates the contract, and General stops working. General incurred costs of $600,000 and would have made a profit of $100,000. General's measure of damages likely is
Answer

$1 million.

$700,000.

$100,000.

nothing.
0.5 points
Question 9
1.
John, Jr., a college freshman, 17 years old, and thus a minor, lies about his age, stipulating in writing that he is 19, and buys a big, flat-screen TV from Good Buy. The TV is badly damaged when John, Jr. and his friends are tossing around a football in his dorm room. He returns the TV to Good Buy and demands his money back, saying he is just 17 years old. The likely legal result of this situation would be:
Answer

Since he is a minor he can disaffirm the contract and get all his money back and is protected due to his youth and immaturity.

Since he is a minor he can disaffirm the contract and get some money back but because he lied, he is liable for the damage and depreciation to the TV.

He cannot disaffirm even though he is a minor since he misrepresented his age and the misrepresentation is in writing..

He cannot disaffirm the contract since a big, flat-screen TV would probably be regarded as a "necessity" for a college student today.
0.5 points
Question 10
1.
Trevor and Chris form a contract by a series of e-mails culminating in the contract and their "electronic signatures" in bold. The contract otherwise is fine, and they print out "hard copies" for their records; but an issue arises as to whether this "e-contract" is a valid one. This contract is:
Answer

Invalid since the common law requires all contracts to be in paper, signed on the paper, and under seal.

Generally valid in the United States by means of the federal E-Sign law.

Valid but only if two witnesses are willing to testify that they saw each party sign electronically.

Invalid under the Statute of Frauds due to the potential for deceit.
0.5 points
Question 11
1.
Gil sends a letter to Holly in which he falsely accuses her of embezzling. This is defamation if the letter is read by
Answer

a public figure.

any third person.

Holly.

only Holly's employer or a potential employer.
0.5 points
Question 12
1.
Albert is the Chief Financial Officer of a company that is regulated by the Sarbanes-Oxley Act. Pursuant to this statute, Albert must:
Answer

Comply with the Act's certification statements.

Not retaliate against whistleblowers.

Not receive a personal loan from his company except for very limited purposes.

All of the above.
0.5 points
Question 13
1.
Pursuant to the commercial speech doctrine under U.S. constitutional law:
Answer

commercial speech is not constitutionally protected since the motive is for business to make money

commercial speech is will not protect legal, adult-like activities and products like tobacco, alcohol, and gambling since they are regarded as "vices" and thus should be prohibited

commercial speech is not constitutionally protected since most commercials on television, especially around dinner-time, are loud, annoying, and gross

commercial speech must be true and non-deceptive and involve a legal product or service to gain constitutional protection.
0.5 points
Question 14
1.
The Small Motel Owners of the lower Keys have a secret meeting in Captain Tony's Bar in Key West wherein they agree that they will all extend the "winter season" motel rates one more month until June 15. The Small Motel Owners have acted:
Answer

Legally since they have the freedom of contract to make such an agreement.

Legally since the extension was reasonable under the circumstances, especially considering the poor economy and the influx of wealthier tourists from Latin America and Germany..

Legally since this agreement is governed by the Rule of Reason of anti-trust law.

Illegally since this is a Per Se violation of anti-trust law.
0.5 points
Question 15
1.
Central Business Corporation was incorporated in Delaware, has its main office in New Jersey, and does business in New York. Central is subject to the jurisdiction of
Answer

Delaware, New Jersey, or New York.

Delaware or New Jersey only.

Delaware or New York only.

New Jersey or New York only.
0.5 points
Question 16
1.
The Foreign Corrupt Practices Act can prevent each of the following except:
Answer

Bribes to foreign officials.

Bribes to foreign political party officials.

Bribes to candidates for office in foreign nations.

Facilitating and expediting payments to lower level foreign officials for routine government actions.
0.5 points
Question 17
1.
Java Company hires Ken to manage one of its stores. Although their employment agreement says nothing about Ken being able to hire employees to work in the store, Ken has the authority. This is
Answer

apparent authority.

express authority.

imagined authority.

implied authority.
0.5 points
Question 18
1.
Eagle Skis, Inc., makes and sells skis. In deciding whether the skis are merchantable, a court would consider whether
Answer

Eagle violated any government regulations.

the skis are a quality product.

the skis are fit for the ordinary purpose for which such goods are used.

the skis are made in an efficient manner.
0.5 points
Question 19
1.
Carl holds himself out as a partner of Delta Associates, a partnership, even though he has no connec¬tion to the firm. Carl obtains a loan based on the misrepresentation. Carl's default on the loan results in
Answer

Carl and Delta's joint liability for the amount.

Carl's sole liability for the amount.

Delta's sole liability for the amount.

neither Carl's nor Delta's liability.
0.5 points
Question 20
1.
Ann contracts with Bob, a financial planner who is required by the state to have a license. Bob does not have a license. Their contract is enforceable if
Answer

Ann does not know that Bob is required to have a license.

Bob does not know that he is required to have a license.

the purpose of the statute is to protect the public from unlicensed practitioners.

the purpose of the statute is to raise government revenue.
0.5 points
Submitted: 3 years ago.
Category: Homework
Expert:  Chris M. replied 3 years ago.
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Chris M., M.S.W. Social Work
Category: Homework
Satisfied Customers: 2541
Experience: Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
Chris M. and other Homework Specialists are ready to help you
Customer: replied 3 years ago.
the questions i wanted answered were not
Expert:  Chris M. replied 3 years ago.

Hello,

 

What do you mean exactly by "the questions i wanted answered were not?"

Customer: replied 3 years ago.

i wanted these questions below answered too but they were not. but i was satisfied with what you have answered so far. thanks!

 

-Question 1

 

Ron contracts with Gail under what Ron later learns to have been misrepresented facts. Ron has not yet suffered an injury. He can

Answer

 

only obtain compensatory damages from Gail.

 

rescind the contract and receive restitution

 

either obtain damages or rescind the contract.

 

none of the above.

Question 2

 

Which of the following kinds of jurisdiction would be necessary and sufficient for a court to hear a case?

Answer

 

Subject matter and in personam and in rem.

 

Subject matter or in personam or in rem.

 

Subject matter and either in personam or in rem.

 

In rem and either subject matter or in personam

Top of Form

Question 3

 

In order for an offer to be valid, the following must be met except:

Answer

 

There is an objective intent by the offeror to enter into a contract.

 

The offer must be in writing and signed by the offeror.*

 

The offer must be communicated to the offeree.

 

The offer must be certain enough that most reasonable people can figure out what is being offered.

Question 4

 

Fred owns an apartment building in fee simple. Fred can

Answer

 

give the building away only.

 

give the building away, sell it, or transfer it by will.*

 

not give the building away, sell it, or transfer it by will.

 

sell the building or transfer it by a will only.

Question 5

 

A minor good faith deviation or omission in an otherwise complete performance of a contractual obligation in a construction contract is known as:

Answer

 

Substantial performance.

 

Nonmaterial performance.

 

Nonessential performance.

 

Material performance

Question 6

 

The UCC applies to a mixed sale:

Answer

 

Whenever a sale of goods is a part of the transaction.

 

Only if there is no service involved.

 

If the sale of the good is the predominant part of the transaction.

 

Only if the contract provides that the UCC applies.

Question 7

 

The person empowered by the corporation to receive notice of lawsuits against it, is called the:

Answer

 

Incorporator.

 

Promoter.

 

Registered agent.

 

President.

Question 8

 

The Foreign Corrupt Practices Act prevents each of the following except:

Answer

 

Bribes to foreign officials.

 

Bribes to foreign political party officials.

 

Bribes to candidates for office in foreign nations.

 

Bribes to foreign officials if the payment is legal under the written laws of the nation in which it was made.

Question 9

 

Excel Corporation agrees to sell the latest version of its Go! computer game to National Retail Company. Excel delivers an outdated version of Go! (nonconforming goods). National's possible remedies may include

Answer

 

recovering damages only.

 

rejecting part or all of the goods, or revoking acceptance only.

 

recovering damages, rejecting goods, or revoking acceptance.

 

none of the above.

Question 10

 

Which of the following is true?

Answer

 

Juries issue verdicts and judges enter judgments.

 

Juries can either issue judgments or verdicts.

 

The trial judge cannot change or overturn a jury's verdict once it has been issued.

 

If a case is appealed, the jury will return to hear the case again.

Question 11

 

Which of the following is true regarding contracts?

Answer

 

A contract that is completely performed by all parties is called an executory contract.

 

A contract that has been completely performed by one party, but not the other, is called an executed contract.

 

A contract that has been performed by A but not by B is executory as to B and executed as to A.

 

To be enforceable, a contract must be executed.

Question 12

 

Which of the following is not one of the functions of the SEC?

Answer

 

Adopting rules to further the functions or purposes of the securities laws.

 

Providing government-backed insurance to purchasers of all securities.

 

Investigating securities violations.

 

Bringing enforcement actions against suspected violators of securities laws

 

 

13 The tort of fraud requires the following except:

Answer

 

A false representation of material fact.

 

Knowledge of the falsity and intent to deceive.

 

Breach of the duty of strict ethical honesty in fact.

 

Justifiable reliance by the deceived party on the misrepresentation

Question 14

 

Lee and Mary want Nick to replace Lee as a party to their contract. They can best accomplish this by agreeing to

Answer

 

an accord and satisfaction.

 

an assignment.

 

a novation.

 

a nullification.

Question 15

 

Which of the following is true about the Uniform Partnership Act?

Answer

 

It is a federal statute which covers all partnerships.

 

It is the statute which set up partnerships as pass-through entities for tax purposes.

 

It is a model statute which has been enacted by nearly all states as state law governing the formation and operation of partnerships.

 

It can apply only if there is no other statute or common law principle covering the applicable condition.

Question 16

 

A claims that she and B entered into a contract. The intent to enter into a contract is determined with reference to

Answer

 

the conscious theory of contracts.

 

the objective theory of contracts.

 

the personal theory of contracts.

 

the subjective theory of contracts

Question 17

 

B bets C on the outcome of the SuperBowl. Gambling on sports events is illegal in their state. This wagering agreement is

Answer

 

not enforceable unless there is an admission as to its existence

 

voidable by the losing party

 

valid if the bet was a fair one with proper "odds"

 

void.

Question 18

 

Which of the following is not one of the three main branches of the U.S. Government?

Answer

 

Executive.

 

Administrative.

 

Judicial.

 

Legislative

Question 19

 

Alpha Inc., a U.S. firm, signs a contract with Beta, Ltd., a Russian company, to give Beta the right to sell Alpha's products in Russia. This is usually known as:

Answer

 

a distribution agreement.

 

a joint venture.

 

direct exporting.

 

licensing.

Question 20

 

Pursuant to the commercial speech doctrine under U.S. constitutional law:

Answer

 

commercial speech is not constitutionally protected since the motive is for business to make money

 

commercial speech is given the same degree of protection as political speech since it is speech

 

commercial speech is not constitutionally protected since most commercials on television, especially around dinner-time, are loud, annoying, and gross

 

commercial speech must be true and non-deceptive and involve a legal product or service to gain constitutional protection.

Question 21

 

Which of the following best describes the requirements of a partnership?

Answer

 

An association of persons, owning property, sharing gross receipts.

 

An association of persons, owning and managing a business in order to make a profit.

 

An association of persons, owning property in order to make a profit.

 

An association of persons.

Question 22

 

An example of an illegal contract typically is

Answer

 

A contract to commit a tort

 

A contract that is usurious

 

A contract for gambling

 

All of the above

Question 23

 

Which of the following statements is false regarding the liability of partners?

Answer

 

Each partner is jointly and severally liable on all contracts made by or on behalf of the partnership.

 

Each partner is jointly and severally liable for all physical torts committed by a copartner in the course of partnership business.

 

Each partner is jointly and severally liable for frauds committed by a copartner in the course of partnership business, even though he or she does not know of or participate in the fraud.

 

Where there is joint and several liability, an action may be brought against any one or more of the partners or the partnership.

Question 24

 

Which of the following is a false statement?

Answer

 

The Civil Rights Act of 1964 in the U.S. does not expressly prohibit job discrimination based on educational standards.

 

The Civil Rights Act of 1964 in the U.S. does not expressly prohibit job discrimination based on sexual preference or orientation.

 

The U.S. Equal Employment Opportunity Commission can sue in federal court on behalf of a victim of discrimination.

 

Under current U.S. law, corporate employers cannot advertise for positions in minority or women's business journals since that would be "reverse discrimination."

Question 25

 

An example of an equitable remedy is

Answer

 

Exemplary damages

 

Speculative damages

 

Consequential damages

 

An injunction

Question 26

 

The sales provisions of Article 2 of the UCC apply to:

Answer

 

Neither merchants nor nonmerchants.

 

Nonmerchants, but not to merchants.

 

Merchants, but not nonmerchants.

 

Both merchants and nonmerchants

Question 27

 

Which of the following statements regarding a partnership is true?

Answer

 

A partnership is an involuntary association.

 

To be valid, a partnership must have a written partnership agreement.

 

A partnership is a separate, tax-paying entity for federal tax purposes.

 

Partners have personal liability much like that of sole proprietors.

Question 28

 

A supervening illegality (that is, legality after the contract was entered into) is best described as

Answer

 

Voiding the contract

 

Resulting in a discharge of contract duties

 

Having no effect on the contract

 

Making the contract voidable

Question 29

 

Which of the following statements is not true regarding the dissolution of a partnership under the U.P.A.?

Answer

 

Dissolution may occur before the business of the partnership is wound up and the assets distributed.

 

The business of a partnership must always be wound up and liquidated upon dissolution, even if the partnership agreement provides that the remaining partners may carry on the business.

 

A partnership may always be dissolved at any time by the express will of any partner, even if the partnership agreement provides that it is irrevocably for a fixed term.

 

A partnership is dissolved automatically by operation of law upon the death or bankruptcy of any partner.

Question 30

 

Which of the following is not a correct statement?

Answer

 

The common law of contracts governs all types of contracts in the U.S. without exception.

 

A contract is an agreement between two or more parties that can be enforced in court of law.

 

Pursuant to the objective theory of contracts, the intention to enter into a contract is determined by the objective facts that are interpreted by the "reasonable prudent person" standard.

 

The agreement component of a contract consists of an offer and an acceptance under the common law.

Question 31

 

Under the UCC a merchant is best described as a

Answer

 

A salesman or saleswoman

 

A retailer

 

An inventor

 

A Venetian

Question 32

 

Which of the following is not true about promoters of a corporation?

Answer

 

A promoter can be relieved of liability on a contract entered into on behalf of a corporation with a third party if, after the corporation is formed, the third party agrees to a novation.

 

A promoter can be relieved of liability on a contract entered into on behalf of a corporation with a third party if, at the time the contract is entered into, the third party agrees to a novation to occur automatically upon the valid creation of the corporation.

 

The creation of the corporation does not automatically release the promoter from contracts entered into on behalf of the corporation.

 

If the corporation fails to come into existence, the promoter cannot be held liable on contract entered into on behalf of the corporation.

Question 33

 

The Statute of Frauds requires that certain types of contracts:

Answer

 

Be in writing in order to be valid.

 

Be in writing in order to be enforceable.

 

Contain a promise for an act.

 

Have two or more attorneys present at the signing of a written contract

Question 34

 

Unless specifically agreed upon by the partners, which of the following rights do partners not have?

Answer

 

Participation in management.

 

Sharing in partnership profits.

 

Salaries or other compensations.

 

The return of capital.

Question 35

 

Which of the following is a false statement?

Answer

 

If a contract for the sale of goods does not include a price term, it nonetheless may still be enforceable pursuant to the Uniform Commercial Code.

 

If a contract for the sales of goods does not include the exact terms for payment, it normally will be unenforceable since it is impermissibly vague.

 

When an offer for the sale of goods does not specify a means of acceptance, the offer usually can be accepted by any manner reasonable under the circumstances.

 

A warranty is an assurance by the buyer to the seller that he or she will pay valid and good consideration for a product.

Question 36

 

The transfer of rights under a contract to a third party is called:

Answer

 

An assignment.

 

An adjudication.

 

A resolution.

 

A delegation to an obligee.

Question 37

 

335.Which of the following statements is not correct?

Answer

 

Generally, a state court can exercise jurisdiction over a nonresident by showing that he or she had sufficient contacts with the state.

 

A lawsuit involving a federal question can originate in a federal court in the United States.

 

The United States Supreme Court has automatic appellate authority over all cases decided in the state courts.

 

An answer to a lawsuit can admit to allegations made in a complaint in the U.S. civil law system.

Question 38

 

Which of the following statements is not true regarding the buyer's right to cover?

Answer

 

The buyer must cover.

 

The measure of damages in a cover is cover price less contract price.

 

Cover must be done in a commercially reasonable manner and without undue delay.

 

Consequential damages can be recovered in addition to the cover damages.

Question 39

 

Under the UCC, between merchants, if a purported acceptance contains additional terms, there is an acceptance, and

Answer

 

The additional terms are not part of the contract.

 

The additional terms are part of the contract.

 

The additional terms do not become part of the contract if they materially alter the contract.

 

There is no contract.

Question 40

 

Corporations typically are required to hold shareholders' meetings at least:

Answer

 

Annually

 

Every six months.

 

Twice a year, but they are not required to be held every six months.

 

Quarterly.

Expert:  Chris M. replied 3 years ago.

Hello, and thanks for the reply.

 

If you where satisfied with the answers to the original post, I would ask that you "accept" those. Experts are only compensated when you "accept" their answers. As for the 40 question exam, I honestly couldn't answer all of these without doing a lot of research. I would suggest that you break this exam up into new separate posts of, say, ten questions per post to better you chances of getting answers.

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