buis law final
A lessor is a party who acquires a right to the possession and use of goods under a lease
FALSE
A party's signature must be at the end of a writing for the writing to constitute an enforceable contract.
FALSE
A successful tort suit an individual is aearded compensatory damages to put them in a better position that the party who committed the tort
FALSE
All courts use the same test for legal insanity.
FALSE
An offer made in undue excitement is an effective offer.
FALSE
Any courts can exercise jurisdiction over any person
FALSE
Attempts to settle a case must be concluded before the litigation process begins.
FALSE
Choice-of-law clause permits a party to which nations law to apply to a dispute arising under an international conflict:
FALSE
Civil law has to do with wrongs committed against society for which society demands redress
FALSE
Discovery is the process of serving a summons and a copy of a complaint on a defendant.
FALSE
Employer can use their power and control to engage in an intentional pattern of outrageous abuse against an employee without potential tort liabilit
FALSE
Generally, the law recognizes a partnership as an independent entity.
FALSE
Identification is not significant for the buyer or seller
FALSE
In an accord and satisfaction, the accord in which one pary gives up the right to pursue legal claim against another party
FALSE
In contract law, damages compensate for harm suffered as a result of another's wrongful act, not for the loss of a bargain.
FALSE
In the us gov system, applying the laws to specific situations is the essential role of congress
FALSE
Invitation to submit bids is an offer
FALSE
Judicial review is the process through which congress approves/ rejects judicial appointment
FALSE
Manufacturer doesnt need to inspect and test any purchjased components used in the final product to avoid product liability
FALSE
Negotiation requires the use of a neutral third party to facilitate a settlement
FALSE
Offer can be accepted by the offeree
FALSE
One of the key advantages of the corporate form is the unlimited liability of its owners.
FALSE
Only the us scotus exercises the power of judicial review
FALSE
Performance becomes commercially impracticable when a foreseeable, added burden of performing increases the cost slightly.
FALSE
Personw who wrongfully hurts anothers good name orally may be liable for libel
FALSE
Puffery is an expert's opinion that creates an express warranty.
FALSE
Simplest form of ADR is mediation
FALSE
The rights secured by the Bill of Rights are absolute.
FALSE
The term consideration refers to the deference shown by contracting parties to each other.
FALSE
There is no right answer to every legal question
FALSE
Those who dont make goods, but only sell them cannot be held leable for harm caused by those goods to a consumer
FALSE
To constitute the crime of bribery, the bribe must consist of money.
FALSE
To gain a share of a market, a buisnessperson can interfere in another business even if the behavior is predator
FALSE
To maintainin an action in strict product liability the plaintiff must show why and how the product became defectiv
FALSE
Under the doctrine of strict liability, persons are liable only for the results of their international acts or their failure to exercise due care
FALSE
When there is a direct conflict between a federal and a state law, both are rendered invalid.
FALSE
a cop;yright owner who sells a copy of work retains rthe right to control the further distribution
FALSE
a corportation is not liable for the misconduct of its agents
FALSE
a court will grant specific performance as a remedy only when the legal remedy is adequate
FALSE
a merchants firm offer is revocable at any time before acceptance
FALSE
a partner can put their intereset before the interse of the partnership withnout violating any fiduciary duty owed to the firm
FALSE
a promise to do something that ine has no prior legal duty to do is not legally sufficient consideration
FALSE
a promise to pay another debt only if that party fails to p;ay doesnt need to be in writing to be enforceable
FALSE
a single person carrying on buisness for profit with control over its operation can constitute a partnership
FALSE
according to the ucc one person will cause a sales contract to fail for indefiniteness
FALSE
act of ommission cant be a crime
FALSE
admin. law plays a insignificant role in regualtion of buisness environment
FALSE
agreement exists when one party offers a certain bargain to another party
FALSE
an agreement made before marriage that defines partners interest in the other property is collateral promsie
FALSE
an implied warranty or merchantability and an implied warranty of fitness for a particular purpose cannot exist in a single transaction
FALSE
an oral sales contract for goods priced at less than 500 is unenforceable
FALSE
appellate courts have no discreationary power to reject an appeal- appellate courts must accept all appeals
FALSE
at the option of the partners a partnership can be a pass through entity or a taxpaying entity
FALSE
basically state lemon laws provide remedies to consumers who buy food that is not merchantable
FALSE
before trial, jury renderss a preliminary verdict ro indicate to the attorneys what they must attemot to prove during the trial
FALSE
bilateral mistake occurs if one party to a contract is mistaken about a material fact and the other party knew
FALSE
commerce clause has no great impact on buisness
FALSE
communications decency act, internet service providers are liable as publishers of defamatory statements
FALSE
contract isnt enforceable without defined objective
FALSE
contracts entered in by metally incompetent arent valid under any circumstances
FALSE
corportation cannot be formed for purposes other than making a profit
FALSE
criminal case only 3/4 of jurors need to agree
FALSE
cybersquatting is legal when the person offering for sale a domian name as a trademark to profit from the sale
FALSE
default judgement is a judgement entered by a court in a case neither party prevails
FALSE
expert testimony is effective with juries, there is no potential for abuse
FALSE
false imprisonment occurs only when a person justifiably restrains
FALSE
goods assosciated with real estate never fall withing the scope of ucc article 2
FALSE
if a contract condition isnt satisfied the obligation of the parties are not discharged
FALSE
in a limited partnership every partner has full responsibility for the management of the partnership and its obligations
FALSE
in a successful tort suit an individual is awarded compensatory damages to put them in better position
FALSE
in criminal law the defendant must convince the court that based on the evidence it is more likely than not that the defendant is not guilty
FALSE
in general courts question the adequacy of consideration
FALSE
info that cant be patented, copyrighted cannot be protected as a trade secret
FALSE
key element of a partnership is the intent to act in good faith
FALSE
larceny involves fear, robbery doesnt
FALSE
liquidated damages provisions normally are unenforceable
FALSE
most common way to terminate contractual duties is by repudiation
FALSE
offerors intention to become bound by the offer must be subjectively clear
FALSE
once a compnay has investigated foregin suppliers it is unnecesary to continue to monitor them
FALSE
one party entering into a contract must possess characteristics that qualify the, as competent for contracts
FALSE
primary purpose of the uniform electronic transactions act is to create new rules for electronic contracts
FALSE
privity of contract establishes the basic principle that contracting parties have a right to privacy in the information expressed in their contracts
FALSE
service marks are not protected in the same way as trademarks
FALSE
shipment contract, the seller is required to deliver the goods to a particular destination
FALSE
specified state of mind isnt necessary to establish criminal liability
FALSE
statements of opinion and value usually create express warranties
FALSE
the articles of a partnerhsip can include any terms that the partner wishes
FALSE
the ucc imposes special buisness standards on casual seller/buyers
FALSE
the uniform partnership act governs the operation of partnerships in spite of a different agreement among the partners
FALSE
there is no difference between complete and substantial performance
FALSE
to clarify the terms of a written contract a court will admit any parol evidence
FALSE
to suceed in a suit for copyright infringement the owner must show that the infringer acted intentionally
FALSE
us const. divides power among four branches
FALSE
when a person who is not a partner holds themselves out as a partner, a court may impose liability-and partnership rights- on the alleged partner
FALSE
when there is no formal written partnership an agreement to form a partnership is unenforceable
FALSE
with respect to consideeration a bargained for exchange refers to the location such as stock exchange where the contacting parties negotiated their deal
FALSE
A breach of warranty is a breach of the seller or lessors promise
TRUE
A fed court will apply federal laws in a case involving a federal question
TRUE
A license may limit the use of a software application to a specific device.
TRUE
A seller who introduces into commerce an unreasonably dangerous product may be subject to a tort action for strict liability
TRUE
Acceptancee is timely if its effective offer is terminated
TRUE
An incidental third party beneficiary cannot sue to enforce the contract because the benefit is unintentional.
TRUE
An offer terminates automatically when the period of time specified in the offer has passed.
TRUE
An oral contract for customized goods may be enforced in certain circumstances
TRUE
Any contract can be discharged by agreement of the parties
TRUE
Arbitration differs from other forms of ADR in that a third party hearing a disppute makes the decision
TRUE
Business firm has a duty to exercise reasonable care to protect its business invitees
TRUE
By supplying procedures for enforcing private agreements, contract law provides an essential condition for the existence of a market economy.
TRUE
Corporations comliance with the laws of any jurisdiction in which it does business is complicated by the fact that those laws can be very different
TRUE
Expressly designating a third party as a beneficiary in a contract indicates the beneficiary is intended
TRUE
False statement about a person's business can give rise to liability for defamation
TRUE
Fraud Misrepresentation, scienter clearly exists if a party asserting a fcat knows its not stated
TRUE
If a debt is liquidated, an accord and satisfaction cannot take place.
TRUE
If a seller or lessor breaches a warrantly, the buyer or lessee can sue to recover damages
TRUE
In sales law, a warranty is an assurance by the seller or lessor about the quality and features of the goods being sold or leased.
TRUE
No legally recognized injury from a given negligent act, there is nothing to compensate- in effect no tort exists
TRUE
Painting a garage can constitute "something of legally sufficient value."
TRUE
Shockingly inadequate consideration can indicate fraud in a contract
TRUE
Tender is an unconditional offer to perform.
TRUE
The UCC imposes some different rules on merchants.
TRUE
The remedy available when a court imposes a quasi contract is the recovery of the reasonable value of a benefit conferred or detriment suffered.
TRUE
There is a remedy available for nearly every breach of contract.
TRUE
To enforce a contractual promise, there must be an exchange of consideration underlying the bargain.
TRUE
UCC provisions relating to passage of title dont apply to leases of goods
TRUE
US constitution provides safeguards that apply not only in federal but also in state courts
TRUE
Under a state long arm statute a court can exercise jurisdiction only over certain nonresident defendants
TRUE
Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.
TRUE
Under the full faith and credit clause of the Constitution, any judicial decision in one state with respect to contact rights will be honored and enforced in all states
TRUE
When a party's performance is perfect, it is said to be complete.
TRUE
When someone suffers injury because of anothers failure to live up to a required duty of care , negligence occures
TRUE
When the original parties to the contract agree that the performance should directly benefit a third person, the party can sue the promisor for breach
TRUE
Works that are copyrightable include product packaging
TRUE
a breach of contract occurs when a party fails to perform part or all of the required duties under a contract
TRUE
a contract must in writing to be enforceable if it cannot by its terms be performed within one year from the day after the contracts formation
TRUE
a corporation whose shares are held by relatively few persons is a close corporation
TRUE
a court can order the dissolution of a partnership if the buisness can only be operated at a loss
TRUE
a court can refuse a contract that the court deems to have been unconsciousable at the time it was made
TRUE
a fact that is important and central to the subject matter is a material fact
TRUE
a lender who makes a loan of an interest rate above the law may committ usury
TRUE
a merchant is a person who deals in goods of the kind involved in the sales contract or who holds themselves out as having skill to the particular goods being sold/purchased
TRUE
a motion to dismiss assserts that a claim has no basis in law
TRUE
a partner who withdraws from a partnership for a term before its expiration date can be held liable for any resulting losses
TRUE
a party that can prove theey didnt agree to terms of contract has a defense against enforcement
TRUE
a public held corporation is any corporation whose shares are publicly traded in a securities market
TRUE
acceptance may consist of words or conduct
TRUE
an obligee can legally refuse performance from delagation only if the duty delegated is one that cant be
TRUE
anticipatory repudiation of a contract is treated as a present material breach in order to give the non-breaching oarty an oppertunity to seek a similar deal elsewhere
TRUE
any confirmation invoice sales check or email may constitute a writing that satisfies the statute of frauds
TRUE
articles of incorporation serve as a primary source of authority for a corporations buisness operations
TRUE
as a rule any duty can be delegated
TRUE
by laws are the interal rules of management for a corporation
TRUE
common law is a body of law based on judicial decisions
TRUE
complaint contians a breif summary of the tactics necessary to show the party filling the complaint is entitled to relief
TRUE
consideration is the value given in return for a promise
TRUE
consideration is the value given in return for a promise or in return or a performance
TRUE
contractual obligations will be discharged when the specific subject matter of the contract is destroyed
TRUE
corporation possesses the same right if access to the courts as a citizen
TRUE
courts usually will enforce a covenanr not to compete provided its restrictions are reasonable
TRUE
criminal case the state must prove its case beyond a reasonable doubt
TRUE
digital sampling can constitute copyright infringement
TRUE
elec. discovery can reveal sig. facts that arent discoverable
TRUE
evidence of a defendants guilt was obtained improperly it normally cannot be used against the defendant in court
TRUE
goods that arent both existing and identified to the contract are called future goods
TRUE
identification is one of the concepts involved in determing the right and liabilities of parties to a sales contract
TRUE
identification is the express designation of the goods provided for in a contract
TRUE
if a statue expressely prohibits assignment the particuler right in question cant be assigned
TRUE
if performance of a contract is not substantial there is a material breach which excuses the nonbreaching party from performance
TRUE
illegall act committed by a buisness using nonviolent means to obtain a buisness advantage is a white-collar crime
TRUE
in a sales contract the passage of risk of loss from a seller to a buyer gives the buyer the right to insure the goods
TRUE
in an effort to prevent fraud the statute of fruads denies enforceablity to certain contracts that dont comply with its requirements
TRUE
in effect a counteroffer converts the original offeror into an offeree with the power of acceptance
TRUE
in most situations involving sales, rights and liabilities are generally not determined by who has title to the goods
TRUE
independent regulatory agencies are NOT subject to the authority of president
TRUE
jury is an important aspect of litigation
TRUE
most crimes are an act of commission
TRUE
on an assignment to a loan broker by an auto dealer of the payments due to an auto loan broker obtains only those lights that the dealer originally had
TRUE
parties to sales or lease contrcats often obtain insurance coverage to protect against damage, loss, or destruction of the goods
TRUE
parties to sales/lease contracts often obatin insurance coverage to protect against damage, loss, or destruction of the goods
TRUE
potent weapon against white collar crimes include fed. laws prohibiting mail/wore fraud
TRUE
providing accounting services is something of legally sufficient value
TRUE
quasi contracts arent real contracts
TRUE
risk of loss cannot pass from seller to buyer unless the goods are identified to the contract
TRUE
risk of loss cant pass from buyer to seller unless the goods are identified to the contract
TRUE
selecting the state in which to incorporate is an important step in the incorparation procedure
TRUE
situation in which agreements lack consideration include those involving a preexisting duty
TRUE
situations in which agrerements lack consideration include thise involving a preexisting duty
TRUE
statements of fact made during the bargaining process are express warranties
TRUE
the corportation is a creature of statute
TRUE
the parties can agree in their contract when identification will take place
TRUE
the power of acceptance continues forever
TRUE
the purpose of the statute of frauds is to ensure that, for certain types of contracts there is reliable evidence of the contracts and their terms
TRUE
the terms in a contract must be sufficiently definite for a court to determine the amount of damages to award
TRUE
to be characterized as good under the ucc an item of property must be moveable
TRUE
to be merchantable goods must be at least average fair or medium grade quality
TRUE
under the staute of frauds a contracts involving an interest in land must be in writing to be enforceable
TRUE
undue influence can arise from a confidential relationship
TRUE
us const. basis for all law in the us
TRUE
when the performance under a contract is substantial is decided on a case by case basis, examinng all the facts of the particular situation
TRUE
ethical code of conduct is not
law
