1. Which of the following is NOT one of the aspects of the implied warranty of merchantability?;A. The goods are suitable for the ordinary purposes for which they are used.;B. The goods are adequately contained, packaged, and labeled.;C. The goods are priced justly and fairly.;D. The goods within each unit or part are of an even quality.;2. If an important contract term is ambiguous, the contract under the common law;is;A. Probably illegal as against public policy;B. Probably enforceable;C. Probably unconscionable;D. Probably unenforceable;3. Where the other party has substantially performed, the nonbreaching party;A. Can obtain specific performance to have the work finished.;B. Is discharged from its own obligations.;C. Cannot have the work finished by others.;D. Remains obligated for the contract price, less the amount to complete or correct the other party's performance.;E. Is not entitled to a remedy because any breach is immaterial.;4. Which of the following is a false statement?;A. An employee also may act in the capacity of an agent.;B. An independent contractor?s physical manner of doing a job is controlled, or is subject to the control, by his or her employer.;C. A principal has a duty to cooperate with his or her agent.;D. A principal generally is required to indemnify an agent for liabilities incurred because of authorized and proper acts by the agent.;5. Which of the following is a true statement?;A. As a general rule, a unilateral mistake does not allow either party to a contract to rescind or cancel it.;B. Where two parties contract for the sale of an old violin and the seller does not realize that it is a rare and extremely valuable one, then the seller, the mistaken party, can cancel the contract since it would then be unfair to him or her.;C. In a fraud case the victimized plaintiff need just prove that he or she relied on the false statement.;D. Fraud typically renders a contract null and void.;6. Questions in writing served by one party on the other prior to trial are called;A. Interrogatories.;B. Depositions.;C. Pleadings.;D. Document Productions.
Paper#16278 | Written in 18-Jul-2015Price : $37