BL Final Review MC Part 2: Question Preview (ID: 22964)

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A promise may be enforced under the doctrine of promissory estoppel when
a) a person promises to do something that he or she is already obligated to do by law b) a person promises to do something that he or she is already obligated to do by prior c) someone intends a gift but consideration is not present d) none of these
Capacity in an organization is created when
a) both of these b) none of these c) an employee has the employer's authorization to bind the organization d) the organization titles a person as such that others believe that the person has certain authority
A contract for non-necessaries can be disaffirmed by a person lacking contractual capacity
a) within a reasonable time after attaining capacity b) within a reasonable time after ratification c) any time after ratification d) any time after attaining capacity
In addition to discharge by complete performance, a contract may be discharged by
a) all of the above b) agreement c) impossibility of performance d) operation of law
An unconscionable contract or clause
a) offends an honest person's conscience and sense of justice b) contains an unforeseeable obstacle to the contract c) implies hidden terms not recognized by the buyer d) none of these
If a buyer selects and agrees to buy the goods in the seller's store, the title passes
a) even if payment and delivery take place later b) when delivery is made c) when payment is made d) when both delivery and payment are made
In settling a dispute with a business, a consumer may seek help or advice from
a) any of these b) the state attorney general's office c) the local Better Business Bureau d) the customer service department of the corporation
All of the following are examples of unfair trade practices except
a) competition b) bait and switch c) confidence games d) unordered merchandise
Money under the counter in exchange for orders or industrial espionage are examples of
a) commercial bribery b) encumbrances c) infringements d) puffing
Overall, consumer laws help protect against the production and sale of substandard or dangerous consumer goods and provide remedies for persons injured as well
a) requiring licenses and inspections b) fixing prices to ensure quality c) both of these d) none of these
An express warranty that obligates the seller to repair or to take replace a defective product without cost to the buyer and within a reasonable time is
a) a full warranty b) an implied warranty c) a limited warranty d) a warranty of merchantability
Warranty of title, warranty against encumbrances, and warranty of fitness for a particular purpose are all
a) implied by law and need not be mentioned in the contract b) express warranties c) warranties of merchantability d) none of these
Goods such as one's car, clothing, or watch are
a) tangible personal property b) intangible personal property c) real property d) intellectual property
When the owner knowingly leaves the property somewhere but then forgets it, the property is considered
a) mislaid b) lost c) abandoned d) worthless
When only one of the parties benefits from the bailment
a) a gratuitous bailment arises b) an extraordinary bailment arises c) an involuntary bailment arises d) a mutual-benefit bailment arises
Often merchants attempt to modify the duty of care with
a) any of these b) a contract c) a disclaimer d) legislation
When you purchase land, you also gain ownership of
a) all of these b) the air space above the surface c) the mineral rights underneath the surface d) the water rights on and under the surface
The tenant has the right to
a) all of these b) possession c) use the property d) sublet the premises
Under the Fair Housing Act,
a) the landlord must allow a handicapped person to modify the property on the condition that it will be returned b) tenants with children may stay in facilities specified housing for older persons c) the landlord may refuse tenants who cannot speak the native language of the community d) none of these
The major type of insurance the covers term, whole, and endowment policies would be
a) life b) casualty c) fidelity d) social
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