UOP Business Law Practice Quiz 2 (2014 Fall D Term 6)

| August 31, 2016

Question
Business Law Practice Quiz 2 (2014 Fall D Term 6)

1.

award:10 out of10.00 points

A contract in which one party may disaffirm or enforce the contract is:

an unenforceable contract.

a void contract.

a voidable contract.

a valid contract.

2.

award:10 out of10.00 points

An enforceable contract has four necessary elements: mutual assent, capacity to contract, consideration, and legal purpose.

True

False

3.

award:10 out of10.00 points

Most advertisements in the mass media are not offers because they:

contain a specific commitment to sell.

require that the consumer accept the offer in a specific manner.

are specific enough to constitute a unilateral contract.

do not contain a specific commitment to sell.

4.

award:0 out of10.00 points

Duress must be based on a physical threat and not an economic one.

True

False

5.

award:10 out of10.00 points

Which of the following is not classified as an equitable remedy?

specific performance

reformation

damages

injunctive relief

6.

award:0 out of10.00 points

A party to a contract may be discharged from performance due to operation of law if the other party unilaterally alters the contract.

True

False

7.

award:10 out of10.00 points

Which of the following would not be considered tangible?

a car

the right of ownership

oxygen

the pen or pencil you are using

8.

award:10 out of10.00 points

Acme Rocket Company is shipping 500 toy rockets by boat to Rockets R Us. Acme is located in Miami, and Rockets R Us is located in Boston. If goods are shipped FOB Miami:

Acme bears the risk of loss if the boat sinks on its way to Boston.

Rockets R Us bears the risk of loss if the boat sinks on its way to Boston.

Acme bears the risk of loss until the goods are accepted by Rockets R Us.

Rockets R Us bears the risk of loss once the shipment arrives in Boston.

9.

award:10 out of10.00 points

Which of the following is not one of the steps in a three-step test for attempted monopolization under the Sherman Act?

The entity had a demonstrable and specific intent to achieve a monopoly.

The entity acted in an anticompetitive manner designed to injure its competitors.

There must exist a dangerous probability that monopoly power would in fact be achieved.

The entity formed an agreement with others to achieve a monopoly.

10.

award:10 out of10.00 points

In American Needle Inc. v. National Football League, the 32 football teams were treated as a single entity because they belong to the same sports league.

True

False

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