JURI 570 Quiz 1
JURI 570 Quiz 1 Liberty University
JURI 570 Quiz: Legal Environment of Business and Contract Law
JURI 570 Quiz: Agency and Sales
JURI 570 Quiz: Negotiable Instruments and Unincorporated Entities
JURI 570 Quiz: Corporations, Debtor-Creditor Relations, and Business Regulation
- Which of the following would be admissible under the parol evidence rule? Assume the written contract was made on June 1, 2010, and that it is an integrated document.
- According to the UCC, an enforceable agreement involving the transfer of title of goods from a seller to a buyer for a price is called a(n):
- Arguments favoring social responsibility of business entities include all but which of the following?
- Past actions unbargained for by the parties in an agreement can become valid consideration for a contract.
- A negotiable instrument, such as a check, is not a formal contract.
- If Bill tells Sara that he will give her two days to decide if she wants to buy his car, he cannot sell it to anyone else during that time.
- In nearly every jurisdiction in the United States, courts of common law and courts of equity have combined into a single court that administers both systems of law.
- Sam, a shopkeeper, dies unexpectedly at the age of 46. His lifelong business associate, Paul, is appointed the administrator of the estate. Sam had a personal debt of $8,000 which he owed to Art’s Appliance Store. Paul says to Art, “If there isn’t enough money in the estate, I’ll personally see that the bill is paid.” Which of the following is correct?
- The principle of stare decisis precludes courts from changing any decisions they previously announced.
- A private citizen may bring a criminal action against an individual for breaking a criminal law.
- True cost-benefit analysis as a social theory:
- Mary agrees to sew Georgia’s prom dress for $50 plus costs. Georgia decides that she wants ruffles around the neck and calls Mary who says it will now cost $60. When Mary finishes the dress (with ruffles), Georgia must pay:
- Contract law: On March 1, Sara, a student, received a telephone call from ComputerChip, Inc. offering her a job for one year beginning on June 15, after completion of the school year.
- According to the personnel manager, she will have to move to California and be ready to start work at 8:00 a.m. on June 15. Should Sara ask for a letter confirming the telephone conversation if she accepts the offer immediately?
- Substantive law establishes the rules for enforcing rights that exist in a society.
- The element of exchange is absent where a promise is given for an act that has already been done.
- Laws passed by Congress are the supreme law of the land in the United States and take precedence over the United States Constitution.
- If the State of Minnesota negotiates with the Canadian government on issues involving acid rain and eventually reaches an agreement with Canadian officials, this is a valid treaty under the United States Constitution.
- Able and Baker are both residents of Iowa, but they have a dispute regarding some land located in Kansas. Able files, in Kansas, a lawsuit regarding the land and Baker objects, claiming the Kansas courts have no jurisdiction. In this case:
- Darla offers to pay Edward $6,000 for Edward’s car, provided that Darla receives that much from her uncle’s estate, which is currently being probated. She expects to know for sure how much she will receive within a week or so. In this case:
- A motion to dismiss for failure to state a claim upon which the court may grant relief is also known as a(n):
- Under the UCC statute of frauds, which of the following terms must be included in a writing in order to satisfy the writing requirement?
- Elvis makes an offer to Miguel, but before Miguel can accept, the state supreme court decides a case that makes the offer illegal. The court decision:
- Business law topics such as contracts, agency, property, and trusts are governed primarily by the common law.
- A contract for the sale of a copyright is governed by Article 2 of the Uniform Commercial Code.
- The federal Constitution provides that federal statutes and treaties are paramount to state constitutions.
- Requirements for a memorandum that satisfies the statute of frauds include that the writing:
- Adam Smith, in The Wealth of Nations, said the capitalistic system was composed of institutions which include all but which of the following?
- Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?
- The pleadings in a lawsuit include:
- Anna by mistake delivers to Bob a plain, unaddressed envelope containing $50 intended for Cora. Bob:
- A decision of the Supreme Court of Washington would always be binding on:
- Aunt Ellie promises her 21-year-old nephew, Robbie, that she will pay him $100 if he quits smoking for a month. If Robbie does, is there a binding contract?
- According to the Restatement, manifesting an intention to act or an intention to refrain from acting in a specified manner is considered to be:
- Kohlberg observed that people progress through stages of moral development according to the major variables of:
- The law does not change; it is based on unchanging and universal truths.
- Able, a resident of New York, has a dispute with Baker, a resident of Illinois, involving a contract signed and performed in New York. His damages amount to $75,000, and he wants to sue. The case can be brought:
- Consideration can be present regardless of whether the parties intend an exchange.
- Jason’s mother would like him to go to college, so in June he enrolls at State University. He also quits his job and tells his mother his plans to continue taking classes. His mother says, “I’m so happy that you are going to college that I want to pay for your books.” Jason
- then sends her a bill for $485. Which of the following is true regarding his mother’s promise?
- Gary mails an offer to Brian on June 15. Brian receives the offer on June 16. Gary mails a revocation of the offer on June 17. Brian mails a letter of acceptance on June 18 and Gary receives the acceptance on June 20. Brian receives the revocation on June 19. Was a contract formed?
- On Tuesday morning John sends a letter to Arlene rejecting her offer, but later the same day John changes his mind and sends a letter of acceptance to Arlene. The letter of acceptance will be effective only if it is received by Arlene before she receives the rejection.
- A valid offer may be in the form of an act for a promise, which is an offer to enter into an inverted unilateral contract.
- Which of the following is NOT always necessary in order for a valid contract to be formed?
- An offer under Article 2 of the UCC that is irrevocable even though no consideration is given to keep it open is known as a(n):
- The separation of powers involves:
- Which of the following need NOT be contained in a memorandum, which satisfies the general statute of frauds writing requirement?
- Tate enters into a contract with Smith under the terms of which Smith is to pay Tate $7,000 and Tate is to build a garage, repair a boat, and build a doghouse. If the doghouse has not yet been built, which term describes the type of contract in existence?Jesse makes an offer to Ike, and Ike accepts; then the state legislature passes a law that makes performance of the contract illegal. What is the effect of the new statute on the contract?
- Decisions in state trial courts generally are reported or published.
- Abe is involved in an automobile accident and is injured. While he is unconscious, the police call an ambulance which takes him to a hospital. Abe is treated at the hospital and released a day later. The hospital sends him a bill for $2,400, which Abe refuses to pay, claiming it is too high and he never consented to the treatment because he was unconscious. Abe: