Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Business Law Final Part IV
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) Failure to perform a duty under a contract is a legal wrong, and even though there is no actual injury, courts will award. Usually $1.
A
nominal damages
B
liquidated damages
C
consequential damages
D
compensatory damages
2) Laws that deny any remedy if the lawsuit is not brought within a certain time after a legal claim arises are called
A
statutes of limitations
B
statutes of frauds
C
the UCC
D
none of these
3) The remedy that places the victim in the same post-contract financial position is
A
compensatory damages
B
none of these
C
rescission and restitution
D
specific performance
4) If a gift is given in expectation of marriage, the person giving the ring has the right to take it back.
A
True
B
False
5) Lacking genuine assent, a contract typically is voidable
A
false
B
true
6) Proposing a counteroffer during negotiations:
A
continues with the original contract terms
B
is illegal
C
is always enforceable
D
creates a new contract with new terms
7) A contract for goods and services that are not necessaries can be disaffirmed by a person lacking contractual capacity...
A
within a reasonable time after ratification
B
any time after attaining capacity
C
within a reasonable time after attaining capacity
D
any time after ratification
8) When one party used an improper threat or act to obtain an expression of the agreement is known as _________.
A
interest
B
terroristic tendencies
C
undue influence
D
duress
9) All contracts require payments or exchanges of value, this is known as _____________.
A
capacity
B
collateral
C
compensatory
D
consideration
10) The ability for someone to fully understand that contract is being made and that there are consequences is contractual ___________.
A
consideration
B
collateral
C
coinage
D
capacity
11) Legal obligations created by a contract are called contractual ____________.
A
duties
B
responses
C
retaliations
D
laws
12) Laws that set a time limit for injured parties to seek remedies is known as _________ of limitations.
A
imposements
B
inhibitors
C
road blocks
D
statutes
13) A trust created Accepting less than what you are owed to end a contractual agreement is known as ___ and ___ (place space between both words).after the death of someone is called a(n)
A
sentra and joy
B
navigator and mood
C
focus and content
D
accord and satisfaction
14) Legal contracts must have a(n) established ____ date.
A
beginning
B
due
C
end
D
any of these will work
15) If you stand to gain or suffer from the sale or destruction of property you have ____.
A
interest
B
capacity
C
jurisdiction
D
lawfulness
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?