Exam 2 Geology

Topics: Contract, Contract law, Void Pages: 11 (2092 words) Published: December 20, 2012
fCurrent Location
1. 2012FA-BUSI-2301-6001 2012FA-BUSI-2301-6001
2. Exams
3. Take Test: Exam 2

Menu Management Options
*
*
*
*
* Expand All
* Collapse All
*
2012FA-BUSI-2301-6001 (2012FA-BUSI-2301-6001)

* Textbooks
* Syllabus
* Instructor Info
* Exams
* Case Studies
* Email
* Power Points
* Make a RTF File
* Announcements
* Check grade
* Tools
* Class Policies

Take Test: Exam 2
Content
Top of Form
Assistive Technology Tips [opens in new window]
Instructions
Description| Chapters 7 - 11|
Instructions| Please read each question carefully before answering, Remember to submit the exam when you finish.| Timed Test| This Test has the time limit of 1 hour. You are notified when time expires, and you may continue or submit. Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain. | Multiple Attempts| This Test allows 3 attempts. This is attempt number 1. | Force Completion| This Test can be saved and resumed later.| Saving AnswerRemaining Time:56 minute, 17 seconds.

Question Completion Status:
12345678910111213141516171819202122232425262728293031323334353637383940

Question 1
1. In most states, a release requires a signed writing.
AnswerTrue
False
2.5 points
Question 2
1. The doctrine of promissory estoppel requires a clear and definite promise. AnswerTrue
False
2.5 points
Question 3
1. A novation revokes and discharges a prior contract.
AnswerTrue
False
2.5 points
Question 4
1. All collateral promises must be in writing to be enforceable. AnswerTrue
False
2.5 points
Question 5
1. Steven, who is Bertha's guardian, convinces her to buy a certain parcel of land from Christy at a greatly inflated price. Steven may be liable for Answer
| | duress.|
| | fraud.|
| | puffery.|
| | undue influence.|
2.5 points
Question 6
1. Under the Statute of Frauds, oral contracts are void.
AnswerTrue
False
2.5 points
Question 7
1. Fact Pattern 10-4
Kelly and Lucas sign a written contract for the sale of Kelly's Koffee Kiosk to Lucas. The parties intend their written contract to be a final statement of the terms of their agreement.

Refer to Fact Pattern 10-4. The writing that Kelly and Lucas signed is Answer
| | a completely integrated contract.|
| | a conditionally integrated contract.|
| | an agreeably integrated contract.|
| | an obviously integrated contract.|
2.5 points
Question 8
1. A quasi contract arises from a mutual agreement between two parties. AnswerTrue
False
2.5 points
Question 9
1. Reliance on a misrepresentation is justified if the misrepresentation is an obviously extravagant statement. AnswerTrue
False
2.5 points
Question 10
1. A covenant not to compete in the sale of an ongoing business is unenforceable. AnswerTrue
False
2.5 points
Question 11
1. Lem buys a used MP3 player for $50 and a new laptop for $1,500, and signs a one-year employment contract for a $4,000 monthly salary to start at the beginning of the next month. The Statute of Frauds covers Answer

| | the employment contract, and the laptop and MP3 purchases.| | | the employment contract and the laptop purchase only.| | | the employment contract only.|
| | the laptop and MP3 purchases only.|
2.5 points
Question 12
1. Lovett County Bank offers to lend money to Kino, the owner of Java Stop, at 15 percent interest. Before Kino accepts, a state statute is enacted prohibiting loans at rates greater than 12 percent. Kino and the bank have Answer

| | have a contract for a loan at 15 percent interest.|
| | have a contract for a loan at 12 percent interest.|
| | have a contract for a loan at 0 percent interest.|
| | no contract for a loan.|
2.5 points
Question 13
1. To recover for fraud, a plaintiff must be under twenty-one years of...

Links: to Test Questions and AnswersRead question 1Read answers for question 1Read question 2Read answers for question 2Read question 3Read answers for question 3Read question 4Read answers for question 4Read question 5Read answers for question 5Read question 6Read answers for question 6Read question 7Read answers for question 7Read question 8Read answers for question 8Read question 9Read answers for question 9Read question 10Read answers for question 10Read question 11Read answers for question 11Read question 12Read answers for question 12Read question 13Read answers for question 13Read question 14Read answers for question 14Read question 15Read answers for question 15Read question 16Read answers for question 16Read question 17Read answers for question 17Read question 18Read answers for question 18Read question 19Read answers for question 19Read question 20Read answers for question 20Read question 21Read answers for question 21Read question 22Read answers for question 22Read question 23Read answers for question 23Read question 24Read answers for question 24Read question 25Read answers for question 25Read question 26Read answers for question 26Read question 27Read answers for question 27Read question 28Read answers for question 28Read question 29Read answers for question 29Read question 30Read answers for question 30Read question 31Read answers for question 31Read question 32Read answers for question 32Read question 33Read answers for question 33Read question 34Read answers for question 34Read question 35Read answers for question 35Read question 36Read answers for question 36Read question 37Read answers for question 37Read question 38Read answers for question 38Read question 39Read answers for question 39Read question 40Read answers for question 40
Bottom of Form
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Contracts Essay 2 Exam
  • MGT 216 Final Exam 2 Essay
  • geology Essay
  • HRM 587 Final Exam 2 Essay
  • Exam 2 Essay
  • Exam 2 Essay
  • Exam 2 Essay
  • Essay about Exam 2

Become a StudyMode Member

Sign Up - It's Free