All Your 112 Exam Questions About LES 305 Correctly Answered
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Course
LES 305
Institution
LES 305
Which of the following examples is an example of a merchant according to the UCC? - ️️A vacuum sales person selling door to door.
Which of the following examples is an example of a merchant according to the UCC? - ️️A vacuum sales person selling door to door.
Which of the following is an ...
Which of the following examples is an example of a merchant according
to the UCC? - ✔ ✔ A vacuum sales person selling door to door.
Which of the following examples is an example of a merchant according
to the UCC? - ✔ ✔ A vacuum sales person selling door to door.
Which of the following is an example of when a person acquires an
insurable interest? - ✔ ✔ Title
Which of the following is classified as an equitable remedy? - ✔ ✔
Reformation
Without genuiness of assent - ✔ ✔ A promise made is not legally
binding.
"Honesty in fact and the observance of reasonable commercial
standards of fair dealing" is the definition of good faith according to -
✔ ✔ The Uniform Commercial Code and common law
A complete and well-written contract should contain all of the following
except
Termination conditions
Definitions
Clauses
Philosophy - ✔ ✔ Philosophy
,A consulting contract between a management consulting firm and a
software company is governed by what source of law? - ✔ ✔
Common law
A court order to refrain from performing a particular act is known as -
✔ ✔ Injunctive relief
How many separate Articles of the UCC exist? - ✔ ✔ 11
If a person unintentionally engages in innocent misrepresentation, the
other party may - ✔ ✔ Avoid the contract
If a term in a contract is ambiguous and unclear, when interpreting the
term the court will generally construe the terms - ✔ ✔ Against the
drafter
If Continental Tires agreed to purchase all of the rubber that a
particular Brazilian rubber plantation could produce, this would be a(n)
- ✔ ✔ Output contract
If Continental Tires agreed to purchase all of the rubber that a
particular Brazilian rubber plantation could produce, this would be a(n)
- ✔ ✔ Output contract
In a destination contract, risk of loss passes to the buyer when the
goods - ✔ ✔ Are tendered at the specific destination.
In general, contracts for the sale of goods are governed by: - ✔ ✔
state statutory law based on the Uniform Commercial Code.
In general, when dealing with an adhesion contract, courts will - ✔ ✔
Assume that the non-drafter had no real opportunity to bargain for
the terms
, In Lucy v. Zehmer, the court ruled that under the objective theory of
contracts - ✔ ✔ Lucy and Zehmer's conduct and language would be
viewed by a reasonable person as a serious intent to contract.
In order to have an insurable interest when a loss or damage of a good
occurs - ✔ ✔ It must cause a person to suffer financial or other
recognizable loss.
In order to have mutual assent, there must be - ✔ ✔ An offer and an
acceptance that is the precise mirror image of the offer
In the case of C.M.D. v. Facebook, Facebook allowed a minor to create a
Facebook account, but the minor had to accept Facebook's terms, which
included using the minor's name and likeness in advertisements. The
minor's parents sued Facebook, claiming the terms of the agreement
were not enforceable against a minor, and also claiming that the minor
disaffirmed the agreement with Facebook. How did the court rule? - ✔
✔ Since the minor kept using Facebook he never disaffirmed it.
In which of the following scenarios would enforcement of specific
performance be appropriate? - ✔ ✔ You own the pistol used by
Hamilton and contract to buy the pistol used by Burr in the Hamilton-
Burr duel to complete your set, but despite the contract the Burr pistol
owner refuses to sell at the last minute.
In which of the following situations is a court most likely to find
substantial performance? - ✔ ✔ KM Corporation orders 500 boxes
of copy paper from MK supply, but MK can deliver only 450 boxes.
A fact is material if - ✔ ✔ It concerns a basic assumption in the
agreement that could change the value of the contract.
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