100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
LSB 3213 Exam 2 – Holden Practice Questions and Answers (100% Pass) $9.99   Add to cart

Exam (elaborations)

LSB 3213 Exam 2 – Holden Practice Questions and Answers (100% Pass)

 7 views  0 purchase
  • Course
  • LSB 3213
  • Institution
  • LSB 3213

LSB 3213 Exam 2 – Holden Practice Questions and Answers (100% Pass) Illegal contracts are A) Void B) Voidable C) Unjust D) A violation of the Uniform Commercial Code - Answer️️ -A In general, contracts for the sale of goods are governed by: A) the Uniform Commercial Code. B) state st...

[Show more]

Preview 3 out of 23  pages

  • August 29, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • LSB 3213
  • LSB 3213
avatar-seller
SophiaBennett
©SOPHIABENNET@2024-2025 Friday, August 23, 2024 10:49 AM




LSB 3213 Exam 2 – Holden Practice
Questions and Answers (100% Pass)

Illegal contracts are

A) Void

B) Voidable

C) Unjust

D) A violation of the Uniform Commercial Code - Answer✔️✔️-A

In general, contracts for the sale of goods are governed by:

A) the Uniform Commercial Code.

B) state statutory law based on the Uniform Commercial Code.

C) state common law.

D) federal regulations. - Answer✔️✔️-B

Will and Kendrick live in a state that requires that contracts involving
transactions over $500 be in writing. If they enter a verbal agreement to buy
a car for $1,500, this contract is

A) void.

B) unenforceable.

C) valid.



1

, ©SOPHIABENNET@2024-2025 Friday, August 23, 2024 10:49 AM




D) voidable. - Answer✔️✔️-B

In general, contracts for services are governed by

A) federal law.

B) the Uniform Commercial Code.

C) state statutory law.

D) state common law. - Answer✔️✔️-D

Caleb contracts with Eliza to beat up Mickey for $50.00. Is that agreement
enforceable?

A) No it is illegal.

B) Yes as long as they understand the consequences of their actions.

C) It is voidable at Eliza's discretion.

D) No unless Caleb has already given her the money. - Answer✔️✔️-A

Aimee and Claire both own their own bakeries in Edwardsville. They both
agree with each other to sell their cupcakes for $5.00. Is this contract
enforceable?

A) Yes because the promise to sell the cupcakes at $5.00 each by each
person is consideration.

B) No because it lacks mutual assent.

C) No as it is a restraint on trade which is against public policy.



2

, ©SOPHIABENNET@2024-2025 Friday, August 23, 2024 10:49 AM




D) Yes as long as the price is fair and does not take advantage of
consumers. - Answer✔️✔️-C

Karen offers to sing five songs at Meyer's wedding for $500.00. Meyer
responds that he will pay her $500.00, but he needs her to sing six songs.
Meyer's actions constitute

A) An acceptance

B) A substantial counter offer

C) A counter offer

D) A substantial acceptance - Answer✔️✔️-C

According to the mailbox rule, an acceptance if effective

A) When received by the offeror B) when dispatched by the offeree in a
commercially reasonable manner.

C) Once received by the offeree

D) One day after dispatched by offeree - Answer✔️✔️-B

A meeting of the mind requires

A)the court to determine that both parties entered into a wise agreement.

B)both parties to compromise in reaching a final agreement.

C)both parties to make a fair offer.




3

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart