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Business Law Final Ivy Review | 60 Questions | With Complete Solutions
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Business Law Final Ivy Review | 60 Questions | WithComplete Solutions
$200 Correct Answers Jay contracted to build a shed for
Rodger for $1,200. Jay breached the contract by refusing to
build the shed. Rodger has his cousin, a contractor, build the
shed for $1,800. Rodger sues Jay and the court determines the
fair market value for the construction of the shed is $1,400. The
court will award Rodger damages of:
Accord and Satisfaction Correct Answers An agreement made
and executed in satisfaction of the rights one has from a
previous contract is a(n):
Administrative Law Correct Answers A Federal
Communications Commission restriction on the amount of
cigarette advertising permitted on television is an example of
Arbitration Correct Answers Mr. & Mrs. Jerk have filed for
divorce. However they desire to have the issue concerning their
children, the little Jerks, resolved immediately. They both agree
that the Dean of the Mortuary School can hear their case
concerning custody and make a "NON BINDING DECISION".
They reserve the right to appeal any decision made by the dean.
The process with the dean is referred to as
Arbitration Correct Answers Steve and Suzy agree to submit
their dispute to their minister for a non-binding decision. This
process is known as:
, At any time during the minority Correct Answers During a
party's minority, a contract may be disaffirmed only if:
Be Communicated with the offeror Correct Answers The
general rule states that for an acceptance to be effective it must:
Bilateral Contract Correct Answers A promise given in
exchange for the other party's promise results in the formation of
a:
Breach Of Duty Correct Answers To recover on a theory of
negligence, the victim must prove the defendant's act was
Charging an illegal rate of interest Correct Answers Usury
refers to:
Civil Laws Correct Answers Laws regulating the rights and
obligation of individuals in relationship to each other are called
Communicated to the offeree Correct Answers At common law
to be a valid offer a statement must be:
Compensatory Correct Answers The damages awarded to place
the non-breaching party in the position they would have been in
if the contract was performed is/are known as:
Complaint Correct Answers The document which starts a
lawsuit is the
Conduct prohibited by law Correct Answers A person is liable
based on the theory of Strict Tort Liability when the person:
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