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Question (Category: business homework)
brick products, inc., files a suit against city trucking service for breach of contract, based on what brick claims was city039s offer. for a court to determine if a contract has been breached, under the common law, the offer must include terms that arebr a. exactly precise.br b. reasonably definite.br c. unequivocally approximate.br d. vague or uncertain.br br br ____ 21. quick transport, inc., offers to sell a truckload of palettes to rapid delivery company. before accepting the offer, rapid learns that the palettes have been sold to speedy trucking corporation. quick isbr a. liable to rapid for breach of contract.br b. liable to speedy for breach of contract.br c. not liable, because the sale revoked the offer to rapid.br d. not liable, if quick offers substitute goods to rapid.br br br ____ 22. callie owns two trucks. she offers to sell the dodge for $20,000 to evan, who accepts. she offers to sell the ford for $20,000 to gwen, who says, ampquottoo much.ampquot callie039s offer was terminated bybr a. evan and gwen.br b. evan only.br c. gwen only.br d. neither evan nor gwen.br br br ____ 23. new cell phone company offers to buy a laser printer, with a case of paper and an extra cartridge, from office products, inc. (opi), for $200. paul, opi039s representative, says, ampquotokay, but no paper and no extra cartridge.ampquot paul hasbr a. accepted the offer.br b. made a counteroffer without rejecting the offer.br c. rejected the offer and made a counteroffer.br d. rejected the offer without making a counteroffer.br br applied methods corporation promises to give stock options to brad, a production designer, for processes he has already designed. this promise isbr a. enforceable because it is a new contract.br b. enforceable because it is an illusory promise.br c. enforceable because it is supported by past consideration.br d. unenforceable.br br br ____ 26. todos ltd. agrees to supply united steel, inc., with minerals from venezuela. when the government is unexpectedly overthrown in a revolution, todos can obtain the goods only at a much higher price. united agrees to pay but later files a suit to recover the difference. the court will most likely rule thatbr a. a change in government is a risk ordinarily assumed in business.br b. an unforeseen difficulty supported the contract modification here.br c. todos engaged in extortion or the so-called holdup game.br d. todos had a preexisting duty to supply the goods at the initial price.br br br fact pattern 12-1bbr sal contracts with tasty pizza company to deliver its products. both parties change their minds, however, and inform each other that they would like to cancel the contract.br br ____ 27. refer to fact pattern 12-1b. the next day, sal changes her mind and again offers to deliver tasty039s products. tasty is willing to deal, but for a new price. sal and tastybr a. may agree to a new contract, but it cannot include a new price.br b. may agree to a new contract that includes the new price.br c. must perform their original contract.br d. must perform the part of their original contract that is executory.br br br ____ 28. speedy assembly company promises its employees a 10-percent raise at the end of the year if productivity has increased and management feels it is warranted. speedy mustbr a. do nothing.br b. give the employees a 10-percent raise only at the end of the year.br c. give the employees a 10-percent raise only if productivity increases.br d. give the employees a 10-percent raise under any circumstances.br br br ____ 29. george and holly disagree as to the exact amount one owes the other. they form a new agreement that, on fulfillment, will discharge the prior obligation. this isbr a. a covenant not to sue.br b. an accord and satisfaction.br c. a release.br d. promissory estoppel.br br br fact pattern 12-2bbr dag and enita are in an auto accident. dag offers b $2,000 if enita promises not to pursue her potential legal claim against dag. enita agrees. later, enita discovers that it will cost $1,500 to repair her car and $4,000 to cover the medical expenses for a latent injury.br br ____ 30. refer to fact pattern 12-2b. in enita039s suit against dag to recover her repair and medical expenses, enita will most likely recoverbr a. half the amount to pay those costs over what dag already paid enita.br b. nothing.br c. the estimated amount to pay those costs and any other liability.br d. the exact amount to pay those costs and no more.br br br ____ 31. ann, an emergency medical technician, renders medical care to brad, a minor. under the ruling of the court in case 13.1, yale diagnostic radiology v. estate of harun, ann may recover the cost frombr a. brad only.br b. brad or brad039s parent.br c. brad039s parent only.br d. no one.br br br ____ 32. mica, a minor, signs a contract to pay natural health club a monthly fee for twenty-four months to use its facilities. six months later, after reaching the age of majority, mica continues to use the club. this act isbr a. a disaffirmance.br b. an emancipation.br c. a ratification.br d. a restitution.br br br ____ 33. u-can-own-it corporation sells appliances to less educated consumers, including viv, on installment plans. u-can-own-it files a suit against viv when she stops making payments. viv claims that the deal is unconscionable. the court will most likely considerbr a. the geographic area of the relevant market.br b. the parties039 relative bargaining power.br c. the quality of related products in the general market.br d. the relation of this deal to those of other customers.br br br ____ 34. boz runs an illegal gambling business and pays colin, a law enforcement officer, not to interfere. the payments are discovered. boz and colin are sent to prison. with respect to the amount of the payments, boz can recoverbr a. all of it.br b. none of it.br c. only as much as colin has not spent.br d. only as much as colin has spent.br br br ____ 35. harold believes his old baseball bat has little value, but murray is convinced it is a valuable collector039s item. harold sells it to murray for $100 before learning it is worth $1,000. the contractbr a. may be rescinded because a mutual mistake was made.br b. may serve as the basis for a court order to murray to return the bat.br c. may be rescinded because murray used superior knowledge about the bat to take advantage of harold.br d. will not be canceled because the mistake relates to the value of the item.br br 40. theo and uma orally agree on the sale of theo039s fitness center to uma and note the terms on a sheet of the center039s stationery, which includes the center039s letterhead but which neither party signs. this agreement is most likely enforceable againstbr a. neither theo nor uma.br b. theo and uma.br c. theo only.br d. uma only.br br br ____ 41. commercial shipping, inc., and dock services corporation enter into a contract for dock to load commercial039s trucks for which commercial agrees to pay dock. dock transfers its duty to load the trucks to east harbor transport company. dock isbr a. a delegator.br b. an assignor.br c. a payor.br d. a righter.br br fact pattern 16-1bbr bayside construction company enters into a contract with clio to remodel dewey039s home store, using products from eagle building supplies. fresh food cafe is next to dewey039s home store. the remodeling is a gift from ben to dewey.br br ____ 43. refer to fact pattern 16-1b. dewey isbr a. a delegatee.br b. an assignee.br c. an incidental beneficiary.br d. an intended beneficiary.br br br ____ 44. candy enters into a contract to pay dino for a business survey and review of candy039s competitors, which dino agrees to deliver by july 1. candy039s offer, on the specified date, to pay dino isbr a. complete.br b. substantial.br c. tender.br d. tough.br br building restoration, inc. (bri), enters into a contract to refurbish an old train depot for casual dining, inc., to open as eat up restaurant. if bri completes most of the work promised in the contract, its performance will bebr a. absolute.br b. complete.br c. material.br d. substantial.br br br ____ 47. super toolmakers, inc., contracts to sell its business to true hardware corporation. before either party has performed, rescission of this contract requiresbr a. a mutual agreement to rescind.br b. consideration.br c. performance by all of the parties.br d. none of the choices.br br br ____ 48. flo agrees to work as gary039s personal accountant for one year but dies in the sixth month of the contract. flo039s estatebr a. is discharged from any contractual liability.br b. must find a competent accountant to fulfill the contract.br c. must pay liquidated damages.br d. must refund any money paid to flo on the contract.br br br ____ 49. handy hardware store agrees to hire ilsa for one year at a salary of $500 per week. when handy cancels the contract, ilsa spends $100 to obtain a similar job that pays $450 per week for a year. ilsa is entitled to recoverbr a. the amount of the wages that handy promised only.br b. the difference between the wages at the two jobs only.br c. the difference between the wages at the two jobs plus $100.br d. $100 only.br br ____ 50. beachside pools, inc., agrees to build a swimming pool for candy, but fails to build it according to the contract specifications. candy hires do-we fix-it company to finish the project. candy may recover from beachsidebr a. the contract price less costs of materials and labor.br b. the contract price.br c. the costs needed to complete construction.br d. profits plus the costs incurred up to the time of the breach.br br br fact pattern 18-1bbr a enters into a contract to buy 132 acres from b to subdivide and sell in quarter-acre lots for c acres, a residential development.br br ____ 51. refer to fact pattern 18-1b. if b breaches the contract, a039s remedy would most likely bebr a. a certain ratio of the amount that a has in liquid funds.br b. a percentage of a039s unrealized profit.br c. the difference between the land039s contract and market prices.br d. specific performance.br br 53. a enters into a contract with b to provide surface material for a039s tennis courts by april 1 for a tournament to begin may 1. the contract specifies an amount to be paid if the contract is breached. this is a liquidated damages clause if the amount isbr a. an excessive estimate of the loss on a breach.br b. a reasonable estimate of the loss on a breach.br c. designed to penalize the breaching party.br d. intended to quickly provide cash to the nonbreaching party.br br br ____ 54. for petra to recover the benefit of her bargain from a breached real estate contract with quality properties, inc., the most appropriate remedy isbr a. damages.br b. quasi-contractual recovery.br c. rescission.br d. specific performance.br br br ____ 55. a contract between e-debits, inc., and first credit corporation includes a provision excluding liability as a result of fraud. this provision isbr a. enforceable because the parties are protected from liability.br b. enforceable because the parties consented to it.br c. enforceable if the parties have equal bargaining power.br d. not enforceable.br br ____ 56. focal point company, a web site management firm, enters into a contract over the internet with global travel, an online travel agent, to buy airline tickets for a business trip for hu, a focal point employee. this is an e-contract becausebr a. the contract was entered into over the internet.br b. the contract was formed electronically.br c. the buyer is involved in a web-related business.br d. the seller is involved in business online.br br br br ____ 57. unique sales corporation and virtual purchasing, inc., attempt to enter into a contract with the use of e-signatures. among states that have e-signature laws, the laws arebr a. identical.br b. similar.br c. uniform.br d. none of the choices.br br br ____ 58. no limit corporation, an online retail sales merchant, and ollie, a consumer, make a deal over the internet that involves e-signatures. under the e-sign act, for the e-signatures to be enforceablebr a. both parties must have agreed to use e-signatures.br b. neither party must have agreed to use e-signatures.br c. only the consumer must have agreed to use an e-signature.br d. only the merchant must have agreed to use an e-signature.br br br ____ 59. excel sales corporation enters into contracts with distributors and other buyers in e-commerce and in traditional commerce. the ueta applies, if at all, only to those transactions in which the parties agree to usebr a. e-commerce only.br b. e-commerce or traditional commerce.br c. neither e-commerce nor traditional commerce.br d. traditional commerce only.br br br ____ 60. jaime and kip, consumers, transact a deal over the internet. their contract does not mention the ueta. the ueta coversbr a. none of the contract.br b. only the part of the contract that involves computer data.br c. only the part of the contract that does not involve computer data.br d. the entire contract.br br br ____ 61. faye owns the land on which golden spurs ranch is situated, plus the ranch house, barn, and other structures permanently attached to the land. faye039s brother huey owns everything else in the ranch039s operation--livestock, feed, and so on. the personal property is owned bybr a. faye and huey.br b. faye only.br c. golden spurs ranch.br d. huey only.br br 63. grain from harvest farms is wrongfully commingled with grain from idyllic fields, which obtains possession of all of the grain. this isbr a. a bailment.br b. accession.br c. confusion.br d. production.br br br ____ 64. roy leaves his pick-up truck at sam039s auto service for an oil change. this is a bailment forbr a. neither party039s benefit.br b. the parties039 mutual benefit.br c. the sole benefit of the bailee.br d. the sole benefit of the bailor.br br div


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