Business Law Review CH 15, 16, 20 & 38 Exam Questions With Correct Answers
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Course
Business law
Institution
Business Law
Business Law Review CH 15, 16, 20 & 38
Exam Questions With Correct Answers
D. Damages - answerWhich of the following is a legal remedy?
Select one:
a. Specific performance
b. Injunction
c. Restitution
d. Damages
e. Expectation interest
True - answerA substituted agreement may simply replac...
Business Law Review CH 15, 16, 20 & 38
Exam Questions With Correct Answers
D. Damages - answer✔✔Which of the following is a legal remedy?
Select one:
a. Specific performance
b. Injunction
c. Restitution
d. Damages
e. Expectation interest
True - answer✔✔A substituted agreement may simply replace the original one between the
original parties.
Select one:
True
False
True - answer✔✔A limited warranty may cover only parts, not labor.
Select one:
True
False
d. Waiver - answer✔✔If a landlady accepts late payment by a tenant without objection, what
means of discharge is she implementing?
Select one:
a. Novation
b. Accord and satisfaction
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
c. Substituted agreement
d. Waiver
e. Release
True - answer✔✔A condition precedent is a term in a contract (express or implied) that requires
performance only in the event something else happens first.
Select one:
True
False
True - answer✔✔An agent may appoint his or her own agents to carry out his/her duties, with or
without the authorization of his/her principal.
Select one:
True
False
a. loss of compensation and profit. - answer✔✔The penalty for breach of the fiduciary duty of an
agent is:
Select one:
a. loss of compensation and profit.
b. imprisonment for a period of 5 years.
c. $1000 for each instance of the act.
d. permanent reduction in the rate of commission.
e. loss of possession and title to the property.
b. Termination - answer✔✔Under the Uniform Commercial Code, which of the following is said
to have occurred when either of the two parties exercises a lawful right to end the contract other
than for breach?
Select one:
a. Cancellation
b. Termination
c. A perfect tender
d. Anticipatory breach
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