i wanted these questions below answered too but they were not. but i was satisfied with what you have answered so far. thanks!
Ron contracts with Gail under what Ron later learns to have been misrepresented facts. Ron has not yet suffered an injury. He can
only obtain compensatory damages from Gail.
rescind the contract and receive restitution
either obtain damages or rescind the contract.
none of the above.
Which of the following kinds of jurisdiction would be necessary and sufficient for a court to hear a case?
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
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In order for an offer to be valid, the following must be met except:
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.
Fred owns an apartment building in fee simple. Fred can
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.
A minor good faith deviation or omission in an otherwise complete performance of a contractual obligation in a construction contract is known as:
The UCC applies to a mixed sale:
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.
The person empowered by the corporation to receive notice of lawsuits against it, is called the:
The Foreign Corrupt Practices Act prevents each of the following except:
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.
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 Excel delivers an outdated version of Go!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
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.
Which of the following is true?
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.
Which of the following is true regarding contracts?
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.
Which of the following is not one of the functions of the SEC?
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:
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
Lee and Mary want Nick to replace Lee as a party to their contract. They can best accomplish this by agreeing to
an accord and satisfaction.
Which of the following is true about the Uniform Partnership Act?
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.
A claims that she and B entered into a contract. The intent to enter into a contract is determined with reference to
the conscious theory of contracts.
the objective theory of contracts.
the personal theory of contracts.
the subjective theory of contracts
B bets C on the outcome of the SuperBowl. Gambling on sports events is illegal in their state. This wagering agreement is
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"
Which of the following is not one of the three main branches of the U.S. Government?
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:
a distribution agreement.
a joint venture.
Pursuant to the commercial speech doctrine under U.S. constitutional law:
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.
Which of the following best describes the requirements of a partnership?
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.
An example of an illegal contract typically is
A contract to commit a tort
A contract that is usurious
A contract for gambling
All of the above
Which of the following statements is false regarding the liability of partners?
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.
Which of the following is a false statement?
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."
An example of an equitable remedy is
The sales provisions of Article 2 of the UCC apply to:
Neither merchants nor nonmerchants.
Nonmerchants, but not to merchants.
Merchants, but not nonmerchants.
Both merchants and nonmerchants
Which of the following statements regarding a partnership is true?
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.
A supervening illegality (that is, legality after the contract was entered into) is best described as
Voiding the contract
Resulting in a discharge of contract duties
Having no effect on the contract
Making the contract voidable
Which of the following statements is not true regarding the dissolution of a partnership under the U.P.A.?
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.
Which of the following is not a correct statement?
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.
Under the UCC a merchant is best described as a
A salesman or saleswoman
Which of the following is not true about promoters of a corporation?
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.
The Statute of Frauds requires that certain types of contracts:
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
Unless specifically agreed upon by the partners, which of the following rights do partners not have?
Participation in management.
Sharing in partnership profits.
Salaries or other compensations.
The return of capital.
Which of the following is a false statement?
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.
The transfer of rights under a contract to a third party is called:
A delegation to an obligee.
335.Which of the following statements is not correct?
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.
Which of the following statements is not true regarding the buyer's right to cover?
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.
Under the UCC, between merchants, if a purported acceptance contains additional terms, there is an acceptance, and
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.
Corporations typically are required to hold shareholders' meetings at least:
Every six months.
Twice a year, but they are not required to be held every six months.