Business Law Final Part III Question Preview (ID: 41765)
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Seeks to place injured parties in the same financial position they would have been in if there had been no breach
a) Compensatory Damages
b) Punitive Damages
c) Unilateral Damages
d) Stagnant Damages
Occurs when the victim relied on an untrue statement of fact which was material to the transaction
a) Misrepresentation
b) Capacity
c) Collateral
d) Consideration
One party in a position of trust wrongfully dominates the other party in a contract
a) Undue Influence
b) Capacity
c) Consideration
d) Collateral
Requires that the terms in the acceptance must exactly match the terms contained in the offer.
a) Mirror Image Rule
b) Undue Influence
c) Misrepresentation
d) Major Breach
An inheritance can take effect
a) upon the death of the maker or completion of tasks
b) when signed to a third party
c) upon the one-year anniversary of the maker's death
d) during leap years
In order for there to be a definition of property, you must have:
a) both options are needed
b) only the right to use, sell, discard of item
c) only the right to make/lose money on sale of item
d) neither option is needed
Gathering shells on a public beach is acquisition by:
a) Occupancy
b) Accession
c) Adoption
d) Adaptation
unique word, mark, symbol, or device that identifies a product of a particular manufacturer or merchant
a) Trademark
b) Copyright
c) Patent
d) Trade Secret
Ownership of natural or man-made increases to personal property is acquired by:
a) Accession
b) Adaptation
c) Adoption
d) Annexation
Tort cases in court:
a) Must return the injured party to a similar state prior to the Tort occurring.
b) Require Injunctions
c) Require a jury to determine the facts of a case.
d) Require Punitive Damages
Which of the following usually does not make a contract void?
a) unilateral mistake
b) mutual mistake
c) fraud
d) any of these
Contracts for goods and services that are not necessaries may not be disaffirmed by minors during their minority.
a) False
b) True
c)
d)
Unless they arise from a bargained-for exchange, gifts having legal value are not consideration.
a) True
b) False
c)
d)
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