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Exam Question
Janet promises to pay Roberto $20 to wash her car. Roberto may accept Janet’s offer by…
- 1. promising to wash the car
- 2. specifying to wash the car
- 3. preparing to wash the car
- 4. washing the car
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Exam Question
Dexter is considering purchasing from Lisa a vacant lot and opening a fast food restaurant. However, he heeds a month to obtain his financing. How may Dexter secure an enforceable offer to purchase the lot?
- 1. requirement contract
- 2. firm offer contract
- 3. option contract
- 4. security contract
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Exam Question
Which of the following contains rules regarding cybercontract law:
- 1. The Uniform Electronic Transactions Act
- 2. The C-Sign Act
- 3. The Internet Contract Act
- 4. The Cyberspace Transactions Act
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Exam Question
Grandma Jones offers by mail to sell her house to Allen for $80,000. She dies unexpectedly. Allen sends his acceptance the next day after her death. Is there an enforceable contract?
- 1. Yes, if Allen did not know of the death
- 2. No, the death terminated the offer
- 3. Yes, if Allen responded in a reasonable time
- 4. No, since the death was unexpected
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Exam Question
Beth contracts to sell Minda merchandise stored in a warehouse. Unknown to either person, the warehouse burned the night before the contract was made, totally destroying the merchandise. In this situation, Minda…
- 1. is bound to the contract
- 2. may successfully assert fraud
- 3. may successfully assert fraud and cancel the contract
- 4. may cancel the contract
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Practice set and Exam Quiz
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Exam Question
Cindi receives via FedEx a new DVD player that she did not order. What is Cindi’s legal obligation?
- 1. none
- 2. hold the DVD player for a reasonable time
- 3. promptly return the DVD player
- 4. pay for the DVD player
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Exam Question
Leo, age 16, has his wisdom teeth removed by Jane, a local dentist. Jane charges Leo $1,200 while most dentists would have charged $900. Leo must pay…
- 1. 1200
- 2. 1050
- 3. 900
- 4. nothing if he disaffirms the contract
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Practice set and Exam Quiz
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Exam Question
A cyberofferor should include the following terms in their offer:
- 1. payment criteria
- 2. liability disclaimer
- 3. return procedures
- 4. all of the above
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Practice set and Exam Quiz
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Exam Question
James operates the only gasoline station along a one hundred mile stretch of desert road and charges four times the normal price for gasoline. A motorist purchasing gasoline from James…
- 1. experiences wrongful economic duress
- 2. experiences wrongful emotional duress
- 3. experiences wrongful undue influence
- 4. experiences no duress or undue influence
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Exam Question
Sarah purchases a car when she is a 15-year-old from OK Motors Inc. Sarah’s contract is…
- 1. valid
- 2. void
- 3. voidable
- 4. unenforceable
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Exam Question
Ichi covers the rust damage to a car he is selling to Henry with a new paint job. Henry does not ask about rust damage. Has Ichi committed fraud?
- 1. No, because Henry didn’t ask about rust
- 2. Yes, because Henry cannot be expected to discover the rust
- 3. No, because rusting is a natural process that Henry should understand
- 4. Yes, because Ichi made the car look nicer than it really was
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Practice set and Exam Quiz
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Exam Question
Vonnie appeared normal but in fact is mentally incompetent. If she decides to disaffirm a contract, Vonnie…
- 1. has no obligation beyond disaffirming
- 2. must return all consideration received
- 3. must pay a reasonable price for any goods or services she received
- 4. must petition a court for permission to disaffirm
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Practice set and Exam Quiz
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Exam Question
Maria offers to pay Alsad $100 if he makes and A in his business law class. While the business law class is in progress, Maria’s promise is…
- 1. unilateral and executed
- 2. unilateral and executory
- 3. bilateral and executed
- 4. bilateral and executory
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Practice set and Exam Quiz
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Exam Question
Margarita does not like the dinner her parents have prepared and leaves the house to purchase a $50 steak dinner at a local restaurant. How much must Margarita’s parents pay the restaurant if Margarita refuses to pay anything?
- 1. 50
- 2. a reasonable price
- 3. an amount to be determined in arbitration
- 4. nothing
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Practice set and Exam Quiz
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Exam Question
Betty is awarded $10,000 damages against Ethyl in a damage suit arising from an auto accident. Betty and Ethyl agree to the payment of this judgment at $100 per month. This payment agreement is confirmed by the court and recorded. Betty and Ethyl now have a…
- 1. contract under seal
- 2. formal contract
- 3. contract of record
- 4. contract to contract
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Practice set and Exam Quiz
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Exam Question
Determining whether or not the parties entered an agreement freely…
- 1. depends on the motives of each party
- 2. deals only with an agreement
- 3. will not enforce an outcome
- 4. is the underlying objective of contract law
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Exam Question
Jay, age 16, purchases a new sports car with his inheritance from his grandfather. Nine months later he wrecks the car, which is a total loss. What are Jay’s disaffirmance rights in most states?
- 1. He may disaffirm
- 2. He may disaffirm but must pay nine months rental value
- 3. He may disaffirm but must pay the salvage value of the car
- 4. He may not disaffirm
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Practice set and Exam Quiz
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Exam Question
Eva intentionally and falsely states that an old ring that she is selling to Julia was made in France. Julia, a collector of French jewelry, pays $3,000 for the ring based upon these statements. Julia later learns that the ring was made in Poland and is worth $6,000. May Julia successfully sue Eva for fraud?
- 1. No, because Julia has not suffered a loss
- 2. Yes, because where the ring was made was a material fact to Julia
- 3. No, because Julia was free to inspect the ring before purchasing it
- 4. Yes, because Eva intentionally and falsely misstated a material fact
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Practice set and Exam Quiz
Yes! You can do Online MCQ practice of Legal Aspects of Business question set and give online exam quiz test for Legal Aspects of Business, so you can check your knowledge. You can get MCQ Study and Exam link from home page.
Exam Question
Aza and Ersaid both believe that a particular horse descended from a Kentucky Derby winner when in fact the horse descended from a horse that came in last in the Kentucky Derby. This is most clearly an example of…
- 1. mistake as to existence
- 2. mistake as to value
- 3. mistake as to description
- 4. mistake of law
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Practice set and Exam Quiz
Yes! You can do Online MCQ practice of Legal Aspects of Business question set and give online exam quiz test for Legal Aspects of Business, so you can check your knowledge. You can get MCQ Study and Exam link from home page.
Exam Question
Avia silently takes one candy bar each day from Jerry’s candy store and pays for them at the end of the week. On this particular day, Avia silently takes two candy bars from Jerry’s candy store. At the end of the week Avia only wants to pay for one candy bar since she believed that she should get one free for being a good customer. A court will…
- 1. apply Avia’s belief in resolving this dispute
- 2. be unable to resolve the dispute unless the parties agree
- 3. create a contract since no words were spoken
- 4. view Avia’s actions as a reasonable person would have
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Practice set and Exam Quiz
Yes! You can do Online MCQ practice of Legal Aspects of Business question set and give online exam quiz test for Legal Aspects of Business, so you can check your knowledge. You can get MCQ Study and Exam link from home page.
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