BLR 202 Question and answers verified to pass 2024/2025
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Module
BLR
Institution
BLR
BLR 202 Question and answers verified to pass 2024/2025 BLR 202 - FInal Exam
A key difference between real and personal property is that: - correct answer real property is normally not movable
If the terms and words in a contract are clear and unambiguous, a court may not consider extrins...
BLR 202 - FInal Exam
A key difference between real and personal property is that: - correct answer
✔real property is normally not movable
If the terms and words in a contract are clear and unambiguous, a court may
not consider extrinsic evidence (that is, any evidence not contained in the
contract itself) when interpreting these words. This is known as (choose the
BEST) answer: - correct answer ✔the "plain meaning" rule.
An executory contract is - correct answer ✔a contract not yet fully performed
The ULC drafted URLTA (the Uniform Residential Landlord and Tenant Act).
The ULC is a: - correct answer ✔private organization
Dan contracts with Rachel, an attorney, to provide him with legal advice on
the sale of his business to potential investors. Dan's contract with Rachel is
governed by: - correct answer ✔the common law of contracts
The "chain of distribution" that we talked about in class is as follows: - correct
answer ✔M→W→D→R→C
Type of business organization in which the organization earnings are given
the same tax treatment as the owner's personal income? - correct answer
✔Sole proprietorship
Which of the following damages CANNOT be awarded for breach of contract
but MIGHT be eligible under a tort law claim? - correct answer ✔Punitive
, Relates to oral evidence in contracts being excluded at a trial and is
sometimes used in a contracts case to prevent the "he said, she said." -
correct answer ✔b. Parol
The roots of the UCC can be traced to which of the following sources? -
correct answer ✔The law of merchants (Lex Mercatoria).
The concept that property reverts to the "state" or government when there is
(are) no heirs to claim it is called: - correct answer ✔b. Escheat
Company B tells Company A, "We love your product. We will buy all that you
produce for the month of July." This statement best exemplifies a(an)
_________________ contract. - correct answer ✔Output
Vanilla Ice, a.k.a. Rob Van Winkle, is the entertainer who, as the story goes,
was "forced" to sign over more royalties to Marion "Suge" Knight. The
strongest defense to this type of coerced signature as part of a contract would
be: - correct answer ✔Duress
If a court is required to interpret an ambiguous (i.e. unclear) contractual term,
which of the following is the court NOT likely to do? - correct answer
✔Interpret language according to what just one of the parties claim their intent
was.
Type of business classification in which earnings are exempt from federal and
state income taxes? - correct answer ✔501 C 3
An implied warranty of merchantability means that: - correct answer ✔the
goods are reasonably fit for the ordinary purpose for which they are sold.
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