ACBS 447 Exam 2

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Development Associates agrees to buy five acres of land from Eastside Properties for $15000. Eastside fails to go through with the deal on the agreed date, when the market price of the land is $17000. DA may recover

$2,000

Farm Equip Inc, makes farming machinery. Gail discovers that her Farm Equip tractor is defective and sues the maker for product liability based on negligence. To win Gail must show

Gail suffered an injury caused by the defect

Lester and Myrtle want to rescind their contract under which Lester sold an MP3 for $40. To rescind the contract

Lester must return the $40 and Myrtle must return the player

Oakley posts a defamatory remark about Pierre in "Ruminate" an online social network maintained by SocNet, Inc. an Internet service provider. Most likely to be held liable for the remark is

Oakley

Nature's food inc orders "Grade A" oil from olive Grove Farms to process and sell to Pic N Pay Grocers. Olive Grove ships "Grade B" oil, which NF accepts. To recover damages for the nonconformity, Natures Food must give notice of the breach within a reasonable time to

Olive Grove

RiteMade Machinery Inc, designs, makes, and sells a drill press. Steel Equipment Company copies the design without RiteMade's permission. Steel's conduct is actionable provided

RiteMade's design is patented

Clem, a user of Game Center.com's website can download gaming software if he first clicks on "I accept" after viewing certain terms. If Flem clicks and downloads, this is

a contract that includes terms whether or not Flem read them

Welding Systems Inc, makes welding torches, masks, and related products. A WSI product may be unreasonably dangerous due to

a defect in its design

Residence Painting Company has a claim against Stuart's property to satisfy a debt that takes priority over other claims against the same property. This is

a lien

Green Glass Corporation makes glass bottles for food and beverages makers to package their products for wholesale distribution and retail sale. Liability may be imposed on Green Glass based on

a manufactoring defect

Neil's performance is most likely

a material breach

Five Star Flooring orders carpet from Textile Mills Corporation, but Textile does not deliver. Five Star will probably be unable to enforce the agreement if the parties omitted

a quantity term

Leon files a suit against Moira, a medical doctor, alleging negligence. As a physician, Moira is held to the standard of

a reasonable physician

To adjust debt and institute a repayment plan, Charlie - who is not a corporation, partnership, or a family farmer or fisherman- may file a petition in bankruptcy for relief through

a repayment plan

Francie's debt to gage brings a legal action against Francie to collect the debt. To ensure that a judgment in Gage's favor will be collectible, Gage asks the court to order the seizure of Francie's property. This is a request for

a writ of attachment

Ping's debt to Oak Furniture Warehouse is past due. Oak obtains a judgment against Ping, but Ping refuses to pay it. Oak asks the court for an order that directs the sheriff to seize and sell any of Ping's nonexempt real or person property that is within the court's geographic jurisdiction. This is a request for

a writ of execution

Ridgeline Bank provides Stanley with a mortgage to buy home. The rate of interest is fixed for three years and then adjusts annually. this is

an adjustable-rate mortgage

Concrete Products, Inc. assures Deepwater Construction Company that Concretes cement will not crack within a certain range of pressure. This "assurance" is

an express warranty

Recycle Packaging Inc, agrees to sell 50,000 6- ounce yogurt containers to Organic Dairy Company. Recycle can obtain only 20,000 of the 6-ounce containers, but also ships 30,000 more expensive 8-ounce containers for the same price. Organic rejects the 8-ounce containers. With time for performance not yet expired. Recycle can

attempt to cure the defect

Driving his sport utility vehicle negligently, Bart crashes into a streetlight. The streetlight falls, smashing through the roof of a house, killing Chris. But for Bart's negligence, Chris would not have died. Regarding the death, the crash is the

cause in fact

Safe-T Guard Services enters into a contract to secure Taylor's Business Park from vandalism and theft between 6pm and 6 am nightly for six months. At the end of the term, if there has been no vandalism or theft in the Park, Safe T's performance will have been

complete

Cathy uses, on her new recording Drive By, the melody of a song written by Ed, without Ed's permission. This is

copyright infringement

Kim uses, on her new recording, Let's Go, the guitar solo from Malcom's digital sound recording without his permission, This is

copyright infringement

Donna makes and distributes copies of Every Good Boy Does Fine, a movie copyrighted by Great Films Corporation, without Great Films permission. Donna may be liable for

damages, fines, or imprisonment

With respect to Mutual's duties, Neil's performance most likely

discharges Mutual from the contract

Hud and Iggy form Jerry-Bilt Construction to enter into a contract to build one bridge. Under their partnership agreement, Jerry-Bilt is to dissolve when the bridge is built. Iggy signs a contract for the firm to build a second bridge. Jerry-Bilt

dissolves as soon as the first bridge is built

Teona files a voluntary petition for bankrupcy for a relief through liquidation. Debts will not be discharged include claims for

domestic-support obligations

Most contracts are discharged by rescission

false

a fixed rate mortgage is a standard mortgage with a rate of interest that changes periodically

false

a franchise contract may use only one type of business organization- the sole proprietorship

false

a lessee is a party who transfers a right to the possession and use of goods under a lease

false

a manufacturer cannot be liable in product liability for intentionally misrepresenting the character of quality

false

a person assumes all risks associated with any activity in which he or she participates

false

a seller has an insurable interest in goods as long as the goods are in existence

false

all oral contracts are enforceable under the UCC

false

an ordinary person standard determines whether allegedly negligent conduct resulted in a breach of a duty of care

false

any breach excuses the non breaching party's duty to perform

false

browse- wrap terms are expressed inside the box in which goods are packaged

false

damages are designed to punish a breaching party and deter others from similar contracts

false

exchanging pirated, copyrighted works with others is not infringement unless money is involved

false

federal law governs garnishment actions

false

foreclosure is the postponement, for limited time, of part or all of the payments on a loan in jeopardy of repossession and sale

false

if a creditor obtains a judgement against a debtor and the debtor cannot or will not pay the judgement, the dispute is at an end

false

if no time for performance is stated in a contract, any time is acceptable

false

in a sole proprietorship, the proprietor shares the burden of any losses or liabilities incurred by the business enterprise with the government

false

patent protection begins on the date that a patent is issued

false

proximate cause exists when injuries sustained were too remotely connected to an incident to trigger liability

false

specific performance is the remedy customarily used when one party has breached a contract for the sale of goods

false

trademark dilution requires proof that consumers are likely to be confused by the unauthorized use of a mark

false

under the doctrine of strict liability, liability is imposed strictly according to fault

false

under the theory of negligence the duty to care requires an intentional act

false

Velma borrows $110,000 from Watershed Bank to buy a home. if she fails to make payments on the mortgage, the bank has the right to repossess and auction off the property securing the loan. this is

foreclosure

Milo borrows $125,000 from North State Bank to buy a home. To comply with the Statute of Frauds, the mortgage must be

in writing

From a computer in a distant location, Serigio searches Tia's personal computer without her permission. Sergio is most likely liable for

invasion of privacy

Mixing Equipment Inc, makes paint-mixing. Jia is injured by a detective MEI mixer. A statute restricts the time within which, after Nia is injured, she may file a product liability suit. this is a statute of

limitations

Grady, an obese individual files a suit against Fry Fast Food Corporation, alleging that FFFC's food is unhealthy because, as Grady knows, it contains high levels of cholesterol and saturated fat. grady is most likely to

lose, because Grady knows of the foods unhealthiness

Ray breaches his lease with Sunny Properties and vacates the premises six months before the end of the term. In some states, Sunny would have to

make reasonable efforts to relet the premises to mitigate damages

Laurel defaults on a loan owed to Maverick Bank. As a creditor, Maverick may attempt to place liens on all of Laure's property except

motor vehicles used to commute to work

GR8 Skates Company makes and sells a pair of skates to homer. GR8 fails to exercise "due care" to make the skates safe, and Homer is injured as a result. GR8 is most likely liable for

negligence

Nadine is a spectator at the Metro City softball Tournament, an athletic competition. Regarding the risk of injury, Nadine assumes the risks

normally associated with the tournament

Demi and Fred are

not partners, because Fred does not have an ownership interest or management rights in eSites

Lark enters into a contract to mine limestone in Milena's quarry, sell it, and share the profits on its sale with Milena. If the duties under this contract are discharged like those under most contracts, the duties will be

performed

olga, a salesperson for the Pre-owned Cars & Trucks, Inc. tells Quincy, "this is the best car i've ever seen" This statement is

puffery

Joy invites Ken into her apartment. ken commits trespass to land if he

refuses to leave when Joy asks him to

Swim & Trim Fitness Corporation wants to formulate a plan under which it pays a portion of its debts and is discharged of the remainder while continuing in business. To accomplish this goal, Swim & Trim should file a petition in bankruptcy for relief through

reorganization

Earth Movers Inc. uses dynamite to prepare land for highway projects. Strict liability is imposed on this activity because

the activity is of a dangerous nature

Quinn enters into a series of agreements with Reba involving a sale of a Suite Dreams Motel, including the land, building, furnishings, shares of stock in Suite Dreams Company, and a contract with Trudy to create an ad campaign. Reba suspects that Quinn may be misrepresenting the facts. The UCC Statute of Frauds governs the sale of

the furnishings priced at $500 or more

Rick designs a new computer hard drive, which he names "Sci Phi" He also writes the operating manual to be included with each final product. Ric could obtain patent protection for

the hard drive only

Lola develops a new espresso machine, which she names "Sure Shot" She also writes the operating manual. Lola can obtain trademark protection for

the name

Carl sells Direct Marketing Enterprises, a sole proprietorship, to Eve. This is a transfer of

the ownership of the business

Console and Gabriela enter into a contract for a sale of saxophones and other brass instruments. Consuelo delivers, but Gabriela doe snot pay. Consuelo can normally recover as damages

the purchase price plus incidental damages

Over the course of a year, Retail Market Inc. sells from its inventory and one of its warehouses. In exchange, Retail receives checks and other items that substitute for cash, which Retail uses to repay a loan from Savers Bank. Article 2 of UCC governs

the sales of the goods

The process behind the production of "Numbers" a suite of business accounting and inventory software, is protected by

trade secrets law

A party who substantially performs his or her duties under a contract can enforce the contract against the other party

true

Causation in fact can be determined by the use of the but for test

true

The extreme risk of an activity is a primary basis for imposing strict liability

true

UCC Article 2 applies to sales transactions between all buyers and sellers

true

a bankruptcy estate consists of all the debtors interests in property currently held, wherever located

true

a beverage company that competes with coca cola cannot call its products koke

true

a breach of contract entitled the non breaching party to sue for monetary damages

true

a forum- selection clause indicates the forum in which contract disputes will be resolved

true

a guarantor can be required to pay an obligation only after the principal debtor defaults

true

a manufacturer is not liable in strict product liability for injuries caused by commonly known dangers

true

a marketing technique can be a trade secret

true

a person can reproduce copyrighted material for purposes such as teaching. including multiple copies for classroom use, without paying royalties

true

a person who keeps a wild animal is always strictly liable for any harm that the animal inflicts

true

a surety is primarily liable for the debt of a principal

true

an individuals right to privacy includes the exclusive use of his or her likeness

true

certain debtors may not qualify to have all debts discharged in bankruptcy

true

if a debtor does not pay a mechanics lien, the debtor's property can be sold to satisfy the debt

true

if a homeowner defaults, the lender has the right to foreclose on the mortgaged property

true

if the parties to a sales contract state that a certain remedy is exclusive, then it is the sole remedy

true

in a general partnership, all partners have equal rights in managing the partnership

true

one characteristics of an abnormally dangerous activity is that it involves an extreme risk

true

the degree of care to be exercised in a situation can vary with a person's profession or occupation

true

the loan that a lender provides to enable a borrower to purchase real property is a mortgage

true

the simplest from of business is a sole proprietorship

true

theft of confidential data by industrial espionage is a theft of trade secrets

true

tortfeasor is the term for a person who commits a tort

true

Clem a Delite Dairy salesperson, follows Edna, a salesperson for Festive Foods, a Delite Customer, as Edna visits stores to make sales. Clem solicits each of Edna's customers. Clem is most likely liable for

wrongful interference with a business relationship


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