eth321 w4 practice
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School
University of Phoenix *
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Course
321T
Subject
Law
Date
Jan 9, 2024
Type
docx
Pages
6
Uploaded by MegaBoulder11491
1.
Callie wants to work for an insurance firm. Before she is hired, the firm wants her to sign a non-
compete agreement that she will not work for any other insurance firm in the state or any
surrounding state for the next ten years. Which of the following is most likely true?
o
This agreement is illegal and punishable under usury laws.
o
This agreement is probably too excessive to be enforceable.
o
This agreement is legal as long as Callie can find a job at least one year after she quits.
o
This agreement is legal and enforceable.
2.
Stetzon, a merchant, makes an unconscionably unfair deal with another merchant, Cheri. Cheri
wants to pursue a remedy when she discovers her disadvantage in the contract. What recourse
does Cheri have under UCC?
o
Cheri may rewrite the contract, to which Stetzon must comply.
o
As a merchant, Cheri has no recourse.
o
Cheri may have a court alter the contract.
o
Cheri may wholly void the contract.
3.
Which of the following contracts are required to be in writing? Select all that apply.
o
A contract to lease property with a guaranty contract
o
A contract to sell real estate, with $800 per month payments
o
A contract between Glinda and her mother for her to not marry her boyfriend Harry.
o
A contract for labor that will finish eight months from when the contract is agreed upon.
4.
What are punitive damages?
o
Damages awarded to return a non-breaching party to its former position
o
Damages awarded to punish gross breaches of contract
o
Damages awarded to cover a foreseeable loss
o
Damages awarded when non-breaching party sues a breaching party
5.
What are compensatory damages?
o
Damages awarded to punish gross breaches of contract
o
Damages awarded when non-breaching party sues a breaching party
o
Damages awarded to return a non-breaching party to its former position
o
Damages awarded to cover a foreseeable loss
6.
Claire and Donny want to use a contract to enforce a business deal. Which of the following
would most solidly enforce to terms of their agreement?
o
A formal, implied contract
o
An informal, express contract
o
An informal, implied contract
o
A formal, express contract
7.
Which of the following would most likely qualify as substantial performance?
o
Out of spite, Wally stops performing work 10 days before his contract is finished.
o
Vivian is under contract to paint 10 paintings, but only finished 8 because she is offered a
o
Lily contracts to paint house green, but decides to paint it blue instead.
o
Leroy doesn’t finish his last 3 days of yard work under contract because his mother has a
8.
Which of the following would qualify as valid consideration?
o
George contracts with his mother that she will leave the good family silver to him when s
o
Candice gives out free samples in order to get more people to buy her ice cream.
o
Stu makes Lewis promise to give all his extra lunch money to Stu every day after school.
o
Carlie contracts with her landlord to pay for rent by landscaping the property and cleanin
9.
What is the definition of
undue influence
?
o
A unilateral of bilateral misunderstanding of value or fact
o
Domination of another person so thoroughly as to remove free will
o
An intentional misrepresentation of material fact
o
Pressure exerted on a person to force him or her to perform under serious threat
10.
What is the definition of
fraud
?
o
An intentional misrepresentation of material fact
o
Pressure exerted on a person to force him or her to perform under serious threat
o
A unilateral of bilateral misunderstanding of value or fact
o
Domination of another person so thoroughly as to remove free will
11.
What is the correct definition of
delegator
?
o
A person accepting contract duties
o
A person accepting contract rights
o
A person making a contract assignment
o
A person transferring contract duties
12.
What is the correct definition of
assignee
?
o
A person making a contract assignment
o
A person accepting contract rights
o
A person accepting contract duties
o
A person transferring contract duties
13.
What is the correct definition of
offeror
?
o
Offeree’s refusal
o
Person who sets the terms of an offer
o
Person who receives an offer
o
Offeror’s withdrawal
14.
Colby is 17 and signs a contract to buy a car. He turns 18 and immediately defaults on his car
loan. Which of the following is true?
o
Colby is obligated to pay only if he affirmed the contract by making a payment after he tu
o
Colby is not obligated to pay the loan.
o
Colby is not obligated to pay the loan only if he is emancipated from his parents.
o
Colby is obligated to his contract and must pay the loan.
15.
Lou picks up a desktop mouse he finds lying on a desk at school. The next day Travis recognizes
the mouse as the one he left behind the day before but tells Lou he “might as well have it.” The
mouse is ________.
o
Mislaid property
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