Business law ch 10-13 Exam Questions With Correct Answers
8 views 0 purchase
Course
Business law
Institution
Business Law
Business law ch 10-13 Exam Questions With
Correct Answers
Requires the defendant to sign the agreement - answerUnder a contract for the sale of land,
the statute of frauds:
a quasi-contract - answerwhat type of contract is a possible remedy for an injured plantiff in
a caase wih no valid contr...
Business law ch 10-13 Exam Questions With
Correct Answers
Requires the defendant to sign the agreement - answer✔✔Under a contract for the sale of land,
the statute of frauds:
a quasi-contract - answer✔✔what type of contract is a possible remedy for an injured plantiff in
a caase wih no valid contract, when the plantiff can show benefit to the defendant, reasonable
expectation of payment, and unjust enrichment?
an orginal painting - answer✔✔Specific performance may be available for the breach of a
contract to sell:
incidental damages - answer✔✔Costs to store a vehicle for a short period of time after an auto
dealer fails to complete the contract to purchase the vehicle would be:
the costs of mailing resumes to prospective employers - answer✔✔which of the following is an
example of incidental damages you might be awarded if you are wrongfully teerminated from a
job?
mathematical error in a contract - answer✔✔which of the following is not a cause of true
impossibilit?
conduct of the parties indicates they intended an agreement - answer✔✔the ourts will find an
implied contract when
pu the non-breaching party in the position it would have been in if the contract hadnt been
breached - answer✔✔the goal of expectation interest is to
a liquidated damages clause - answer✔✔A contract clause which specifies the amount of
damages to be paid in the event of a breach is called:
any of the above would suffice. judges can define signature very broadly - answer✔✔which of
the following would suffice for a signature on a writing under the statute of frauds?
direct damages - answer✔✔the most common monetary award for the expectation interest are
recission - answer✔✔Al contracted to sell his house to Bev. Subsequently, they both changed
their minds and agreed to cancel the contract. The contract between Al and Bev is discharged by:
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
commercial impractibility - answer✔✔Ron operates a garbage pickup business. He contracts to
pick up garbage from an apartment complex for the next 52 weeks at a price of $150 per week.
Unexpectedly, the landfill center where Ron takes the garbage to dispose of it, files for
bankruptcy. As a result, Ron must travel an additional 100 miles to the nearest landfill center,
turning Ron's expected profit into a loss of $40 per week. Ron's best argument in support of his
petition to be discharged from the contract is:
the lease is required to be in writing because of the one year rule - answer✔✔Claude agrees to
lease his house to Irvin for nine months, the lease to begin six months from the signing of the
contract. Under the statute of frauds:
has both parties setting forth their intentions. - answer✔✔an express contract
the offer terminates automatically upon floyds death - answer✔✔Floyd offers to sell his 1967
Ford Mustang convertible to Tim. Before they conclude their negotiations, Floyd dies. Which of
the following is true?
capacity - answer✔✔what element of a contract refers to the parties involved being adults of
sound mind
an easement - answer✔✔for the purposes of the statute of rauds, an interest in land includes
limit the time in which an injured party may sue. - answer✔✔statutes of limitations
the offeree ha a reasonable period duing which to accept - answer✔✔i fan offer specifies no time
limit in which to accept
duress - answer✔✔Mark's home had burned to the ground. When he met with his insurance
adjuster, she accused him of burning down the house, and said she would have him criminally
prosecuted if he didn't settle the claim for much less than the house was worth. Mark agreed to
the settlement. If he changed his mind, he can probably rescind the settlement on the basis of:
as much as he deserves - answer✔✔Courts may award damages called quantum meruit, which
means
a computer - answer✔✔which of the following types of property would be considered goods
under the uniform commercial code?
full performance - answer✔✔M & E contracted to sell 500 music stands to Coda, Inc. M & E
shipped the stands in accordance with the agreement. Coda paid for the stands as promised. The
contract between M & E and Coda is discharged by:
rescind - answer✔✔a minor can undo a contract that has already been completed having a court
_____ the contract to formally cancel it
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Brightstars. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
