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Business Law Ch6-10 MCQs Set2




Question;Questions;1.;What is an irrevocable offer under the Uniform;Commerce Code?;2.;Under the Uniform Commerce Code, name three;things that are required to expressed in a sales contract to satisfy the;statute of frauds?;3.;The provisions of the Uniform Commerce Code were;drafted with the goal of promoting the what of a sales contract?;4.;Name two factors that may indicate the formation;of a contract under Article 2?;5.;When one who is regularly engaged int he sale of;a particular type of good offers to hold open an offer to sell the goods with;an explicit promise in writing, this is a?;6.;Under the Uniform Commerce Code, name two things;that are not required to be expressed in a sales contract to satisfy the;statute of frauds?;7.;The Uniform Commerce Code's statute of frauds;requires which of the following contracts to be in writing in order to be;enforced?;8.;Miami Beach Surf Shop sends a purchase order to;Beach Wear Manufacturing for 500 pairs of "Extreme Board Shorts;bathing suits by December 1. Beach Wear sends back an acknowledgement letter;that includes an arbitration clause in the event of a dispute. It the;arbitration clause part of the contract?;9.;Miami Beach Surf Shop sends a purchase order to;Beach Wear Manufacturing for 500 pairs of "Extreme Board Shorts;bathing suits by December 1. The purchase order contains an arbitration clause.;Beach Wear sends back an acknowledgement letter for the merchandise. What is;included in the terms of the contract?;10.;Miami Beach Surf Shop sends a purchase order to;Beach Wear Manufacturing for 500 pairs of "Extreme Board Shorts;bathing suits by December 1. Beach Wear sends back an acknowledgement letter;that includes an arbitration clause in the event of a dispute. Which of the;following are the terms of the contract?;11.;The legal rules in the UCC that determine which;party in a sales contract bears the financial burden in the case the goods are;destroyed in transit are referred to as;12.;The legal term for the right of ownership of a;good is?;13.;On January 2, Laila University (LU) signed an;agreement to purchase 1,000 baseballs from Regional Sports Equipment (RSE), and;the parties agree that it is a destination contract. RSE arranges for the;baseballs to be placed with a local delivery company with instructions for;delivery to LU. While en route to LU, the delivery truck is in an accident, and;the baseballs are dstroyed. Who had title at the time of the accident?;14.;Unless the parties agree otherwise, the UCC;characterizes any agreement for the sale of goods and delivery as a what;contract?;15.;When one party in a contract for the sale of;goods has reasonable grounds to believe that another party will not perform;the UCC provides that party with the right to demand what of performance?;16.;On January 2, Laila University (LU) signed an;agreement to purchase 1,000 baseballs from Regional Sport Equipment (RSE). RSE;arranges for the baseballs to be placed with a local delivery company with;instructions for delivery to LU. While en route to LU, the delivery truck is in;an accident, and the baseballs are destroyed. The parties do not have any;express agreement as to risk of loss. Who had title at the time of the;accident?;17.;On January 2, Laila University (LU) signed an;agreement to purchase and pick up 1,000 baseballs from Regional sports;Equipment (RSE). RSE arranges for the baseballs to be marked "Sold;and placed in the RSE warehouse for pickup by LU's athletic department crew.;Before the LU truck arrives, the baseballs are stolen from the warehouse. Who;had title at the time of loss?;18.;Buyer and seller enter into a contract that;provides for delivery of goods at the buyer's place of business. The contract;stated, "Seller assumes all risk until goods are delivered at;destination." The parties have entered into a what contract?;19.;T/F: The case of Mattison v. Johnston held that;competition is not a valid excuse to break a restrictive covenant that was;created to avoid just such practices and that inducing someone to break a;restrictive covenant is tortious conduct;20.;T/F: Ms. Bobbin, your ethics teacher, is a first;year professor, just out of school and she is very tough and demanding. You've;done poorly on the first two tests and you think it's her fault. Someone tells;you that she has a criminal past and without verification, you spread this;allegation. In fact, Ms. Bobbin has been a model citizen and never broken the;law. As a result of your actions, she is put on probation pending an;investigation. She cannot sue for defamation because as a professor, she is a;public figure and your conduct was intentional but not a careless disregard of;the truth or with malice;21.;T/F: Sally is walking her 6 month old baby in a;stroller. Mark, a stranger, looks into the stroller and says, "Wow, that's;one ugly baby." Sally is furious and sues Mark for intentional infliction;of emotional distress. She will likely lose;22.;T/F: Jimmy is annoyed because his neighbor's dog;is constantly barking. He intentionally walks up to the dog in his neighbor's;yard and viciously kicks it. Jimmy is guilty of battery;23.;T/F: Because there is no general duty to act or;assist others, a store is not liable should they wash a floor and fail to;notify the public of the slippery condition and someone is injured. Stores do;it as a convenience to customers but not due to a legal duty;24.;T/F: Mike is having coffee in a coffee house;when he sees Jordan who is the dean of a Midwest business school. Mike used to;teach at Jordan's prior school and was considered a very valuable faculty;member. They haven't seen each other for years and Jordan has no idea what Mike;has been doing or where he's currently working. She tells him that she has a;position for him if he's interested. The next day Mike quits the university;he's under contract with and signs a contract with Jordan's school. Jordan's;school can be sued for tortious interference with existing contractual relationship;25.;T/F: Employers, in some states, enjoy an;absolute privilege when giving employment references as long as the reference;is factual and without malice;26.;T/F: Brad is drunk and driving his car 20 miles;over the speed limit. He hits Angelina who is crossing the street against a red;light. Angelina has over $95,000 in medical bills and has significant pain and;suffering. If Angelina sues in a state that still follows the theory of;contributory negligence, she will get nothing;27.;T/F: Professor Smith announces to his dean that;the students in his noon class are the worst students that he has ever had and;that they should never have been admitted to the school. The students are;actually as qualified as any other students admitted to the school. The students;may sue Professor Smith for slander;28.;T/F: Disparagement has to do with industries;companies and corporations and not individuals;29.;T/F: Bill has shoplifted at a local store;stealing three mobile phones. The theft is not detected until store camera;videos are examined later that afternoon. Store management has the right to go;to Bill's home and detain him until police arrive;30.;T/F: Regarding defamation, a qualified privilege;exists in courtrooms and legislative hearings;31.;T/F: A party injured by another's negligence but;who is found to have committed comparative negligence, will recover nothing;32.;The civil counterpart to theft is?;33.;Assumption of risk is a defense to?;34.;One who commits a tort is called the?;35.;In Belanger v. Swift Transportation, Inc., after;Belanger had an accident driving a company vehicle, the accident was reported;to a government website. Belanger claimed that Swift acted with malice and lost;any reference related privilege by reporting information to a third party;website;36.;Bill is a lab technician and in charge of safety;inspections and injury prevention due to faulty equipment at a university;chemistry lab. One morning, as a result of his inspection, Bill discovers a gas;burner with a broken valve. Bill gets distracted and fails to put an "OUT;OF ORDER/DO NOT USE" sign on the faulty burner. When the morning class;arrives, Halle uses the faulty burner and is burned when it catches fire.;Bill's negligence is based on?;37.;In which of the following situations would res;ipsa loquiter likely apply?;38.;Name three categories of torts;39.;Santiago rents a boat slip at the Angler hotel;dock based on misrepresentations by the manager that a full-time security guard;was employed to watch the dock. One night the boat next to Santiago's is;burglarized. in a lawsuit against Angler Hotel for fraudulent misrepresentation;who would prevail?;40.;Pennsylvania passes a state statute that gives;the right for any dairy farmer to sue any party who wrongfully defames milk;produced in Pennsylvania. This is an example of a what statute;41.;Alfredo owns a car dealership that competes with;Hector's. Cassandra is one of Hector's best sales reps and is restricted by;contract from working for any of Hector's competitors for at least two years;from termination. one day she becomes frustrated with her salary and quits. The;next week, she goes to work for Alfredo. In a lawsuit against Alfredo who would;prevail?;42.;What element of defamation require the aggrieved;party to be able to prove pecuniary (monetary) harm?;43.;The law recognizes an absolute privilege defense;to defamation claims against?;44.;Jamal rents a locker at Moe's Storage based on;misrepresentations by the manager that a full-time security guard is employed;to watch the storage lockers. One night, Jamal's storage locker is burglarized.;In a lawsuit against Moe's Storage for fraudulent misrepresentation who would;prevail?;45.;Florida passes a state statute that gives the;right for any citrus farmer to sue any party who wrongfully defames;Florida-grown oranges. This is an example of a what statute?;46.;Carmine owns an electronics store that competes;with Kim's/ Jeremy is one of Kim's best sales reps, so carmine invites Jeremy;to a lavish meal to discuss potential employment at her store. When Jeremy;informs Carmine that he is restricted by contract from working for any of Kim's;competitors for aat least two years after termination, Carmine offers hime;$5,000 to break the contract immediately and Jeremy begins work for carmine. in;a lawsuit against Carmine who would prevail?;47.;When a tortfeasor is willful in bringing about a;particular event that caused harm, it falls into which category of tort?;48.;The law does not recognize an absolute privilege;defense to defamation claims against what?;49.;Doug rented a space in Boswell's Parking to;store his trailer. One night, Doug's trailer catches fire and is destroyed.;After the fire, Doug learns about a brochure quoting the manager of Boswell's;Parking that a full-time security guard watched the lot at night, however, no;such guard existed. In a lawsuit against Boswell's Parking for fraudulent;misrepresentation who would prevail;50.;Idaho passes a state statute that gives the;right for potato farmer to sue any party who wrongfully defames potatoes grown;in Idaho. This is an example of a what statute;51.;Keith provides consulting services to Troy;Manufacturing. Mei-Ling has been trying to get Troy's business for more than a;year and finally offers to undercut Keither's rates by 50 percent. After the;Keith-Troy contract expires, Troy switches to Mei-Ling. In a lawsuit by Keith;against Mei-Ling over the Troy account who would prevail?;52.;If one party fails to act reasonably and causes;harm to another party without any harmful intent, this category of tort is;called?;53.;Name two elements of negligence?;54.;Green Grocer operates a supermarket. Niles is;shopping in the supermarket and slips on a recently mopped floor. Green Grocer;owes Niles which of the following special duties;55.;Friendly Motel posted a sign near its pool;Danger--No lifeguard on duty. Pool closes at sunset." Antonin sees;the sign but takes a midnight swim anyway. He is injured when he hits his head;on the bottom of the pool because no lights are on. In a negligence claim;which of the following is Friendly Motel's best defense?;56.;Name two elements of negligence;57.;High End china operates a chain of kitchenware;stores. Rockefeller is a guest at one of the stores and trips on a ripped rug;near the cash register. High End China owes Rockefeller which of the following;special duties?;58.;Name three elements of negligence;59.;Troy's boss invites Troy and his colleagues to a;dinner at his home. On the way up the walkway to his boss's house, Troy falls;on a step that was cracked. Troy's boss owes him which of the following special;duties?;60.;T/F: Debtors may keep certain assets after they;have filed for liquidation;61.;T/F: An automatic stay halts all creditors;collection actions except for ones brought by government agencies;62.;T/F: The court cannot force creditors to agree;to a reorganization plan even if it is fair, equitable, and feasible;63.;T/F: Chapter 7 allows business entities to keep;some exempt property;64.;T/F: An individual filing for Chapter 7 may;always keep their car;65.;T/F: Creditors can force a company into;bankruptcy proceedings;66.;Whose only legal remedy is to bring a lawsuit;against a borrower to try to recover the money loaned?;67.;A petition for bankruptcy that is filed by;creditors against a debtor is known as what type of filing?;68.;A creditor with an interest in real property is;called a/an;69.;What does going through the process of accord;and satisfaction do?;70.;The reorganization plan is unique to what type;of bankruptcy filing?;71.;Name the three requirements for undue hardship;72.;What is the main difference between Chapters;7-11?;73.;This bankruptcy chapter filing option liquidates;the debtor's property to repay creditors and discharge the debts;74.;How is a debtor protected in bankruptcy from the;moment of filing?;75.;What businesses typically need a personal;guarantee in order to receive a loan?;76.;What is the name of the legislation that helps;homeowners avoid foreclosure by offering certain guarantees when refinancing a;mortgage?;77.;Which chapter of the bankruptcy code is best;thought of as temporary protection from creditors while a business goes through;a planning process to pay creditors while continuing to do business?;78.;Secured creditors require what (property;assets, or land) to secure the debt of a borrower;79.;The most common form of unsecured credit is;what?;80.;Name two secured creditors;81.;a secured creditor must what their security;interest in the collateral in order to be fully protected under UCC Article 9;82.;For small and mid-sized business ventures, a;creditor will typically require a what from the principals of the business in;order to help secure a business loan;83.;Hawkings applies for a loan to fund a business;project, but his credit score is very low and he has no collateral. he;convinces his wealthy friend Ethan to cosign the loan. the bank requires Ethan;to be primarily liable on the loan. Ethan is a what?;84.;what is property, assets, orland used to secure;the debt of a borrower;85.;Hawkings applies for a loan to fund a business;project, but his credit score is very low and he has no collateral. he;convinces his wealthy friend Ethan to cosign the loan. Ethan agrees, as long as;he is not premarily liable on the loan. Ethan is a what?;86.;Hawkings applies for a loan to fund a business;project, but his credit score is very low and he has no collateral. He;convinces his wealthy friend Ethan to cosign the loan. Hawkings defaults and;the bank pursues Ethan, even though they have not exhausted their remedies;against Hawkings. Ethan is a what?;87.;A(n) what business is when a business venture no;longer has adequate assets or revenues to maintain its operations and can no;longer pay its bills as they become due;88.;Stafford starts a Web-based advertising;business, but eventually he can no longer pay the company's bills as they come;due. He files a certificate with the state corporation bureau that indicates;that he is no longer in business. Stafford chose which alternative available to;insolvent businesses?;89.;What is the most extreme form of bankruptcy;because it requires the debtor to liquidate all of their property in order to;pay creditors;90.;Name two options that gives the debtor an;automatic stay from attempts by creditors to collect a debt?;91.;The bankruptcy court has the authority to force;a reorganization plan upon creditors over their objection. This is known as the;court's what provision


Paper#59382 | Written in 18-Jul-2015

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