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Business Law Final Part III
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) Tort cases in court:
A
Require a jury to determine the facts of a case.
B
Require Injunctions
C
Require Punitive Damages
D
Must return the injured party to a similar state prior to the Tort occurring.
2) Ownership of natural or man-made increases to personal property is acquired by:
A
Accession
B
Adaptation
C
Adoption
D
Annexation
3) unique word, mark, symbol, or device that identifies a product of a particular manufacturer or merchant
A
Trade Secret
B
Patent
C
Trademark
D
Copyright
4) Gathering shells on a public beach is acquisition by:
A
Accession
B
Adoption
C
Adaptation
D
Occupancy
5) In order for there to be a definition of property, you must have:
A
only the right to make/lose money on sale of item
B
both options are needed
C
only the right to use, sell, discard of item
D
neither option is needed
6) An inheritance can take effect
A
when signed to a third party
B
during leap years
C
upon the death of the maker or completion of tasks
D
upon the one-year anniversary of the maker's death
7) Requires that the terms in the acceptance must exactly match the terms contained in the offer.
A
Undue Influence
B
Major Breach
C
Misrepresentation
D
Mirror Image Rule
8) One party in a position of trust wrongfully dominates the other party in a contract
A
Consideration
B
Capacity
C
Undue Influence
D
Collateral
9) Occurs when the victim relied on an untrue statement of fact which was material to the transaction
A
Consideration
B
Capacity
C
Collateral
D
Misrepresentation
10) Seeks to place injured parties in the same financial position they would have been in if there had been no breach
A
Unilateral Damages
B
Compensatory Damages
C
Stagnant Damages
D
Punitive Damages
11) Unless they arise from a bargained-for exchange, gifts having legal value are not consideration.
A
True
B
False
12) Contracts for goods and services that are not necessaries may not be disaffirmed by minors during their minority.
A
True
B
False
13) Which of the following usually does not make a contract void?
A
any of these
B
fraud
C
unilateral mistake
D
mutual mistake
*select an answer for all questions
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