Blaw 231 test 2 Robert Knight Selu

Ordinarily, one can agree to a bargain with out knowing that it exist.

False

Phil invents "PhutureNow," new mobile phone application, and applies for a patent. If Phil is granted a patent, his invention will be protected

for twenty years

On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. These parties had

A unilateral contract as soon as Outdoor begins to perform: Unilateral contracts start with money

expenses incurred because of a breach of contract to obtain performance from another source are not recoverable in a suit for breach.

False

A contract is voidable if one of the parties was intoxicated at the time of its formation.

True

Copyright protection is automatic --registration is not required.

True

Forcing someone to enter into a contract by threatening to do something that the threatening party has no right to do is, Duress

True

In the united States, a patent is a given to the first person to file for it.

True

The content of a family-fisherman bankruptcy plan is basically the same as that of a repayment plan.

True

The same principles that govern the filing of a liquidation petition apply to reorganization proceedings.

True

Ochre holds one ton of perishable fruit in storage for Produce Corporation. If Produce does not pay for the storage, under the doctrine of mitigation of damages, Ochre is held to a duty to

do whatever is reasonable to minimize the damages

A contract to do something that is prohibited by law is voidable

false

In the distribution of the debtor's estate, unsecured creditors take priority over secured creditors.

false

Reid agrees to sell his Sports Equipment store to Taylor. As part of the sale, Reid promises not to open a similar, competing store anywhere. This promise is most likely

invalid because of the unreasonable terms of area and time

Under the Statue of Frauds, all contracts must be in writing to be enforceable.

False

Fleet Trucking, LLC, buys a white van from Go Motors, Inc., on credit under a guaranty signed by Herbie, Fleet's president, making him personally liable if the company does not pay. Herbie is

a guarantor

One of the requirements of a valid contract is communication.

true

Ordinarily, any contract duty can be delegated.

true

A list of customer can not be a trade secret.

False

A party who unintentionally uses the trademark of another is not liable for trademark infringement.

False

ANY, breach--material or minor-- discharges the non-breaching party from the contract.

False

An obligation is enforceable only if it is supported by past consideration.

False

Ralph contracts to sell his Double-R Ranch to Samantha on May 1. On April 20, Ralph tells Samantha that he will not go through with the deal. Samantha can recover

The Double-R Ranch

Beans Coffee & Cocoa Company makes and sells a chocolate-flavored coffee drink under the name "CoCoCafe." Darkroast Java, Inc., later markets a similar tasting drink under the name "KoKoKafe." This is most likely

Trademark Infringement

With a mechanic's lien, real estate becomes security for a debt

True

intellectual property is property resulting from intellectual, creative processes.

True

Mayfair Company offers to sell a certain mall to Galleria Stores, Inc., for a certain price if it accepts before 10 a.m. Monday. A contract is formed if Galleria's acceptance is received

before 10 a.m. Monday

Straitedge Toolmakers, Inc., contracts to sell its assets to Tru-Level Hardware Corporation. Before either party has performed, rescission of this contract requires

a mutual agreement to rescind

Ronaldo agrees to pay Simplex Cash Store a debt that is otherwise dis chargeable in bankruptcy. This is

a reaffirmation

Paving Corporation taps into the computer network of Roadwork Inc., a competitor, and downloads confidential business data without Roadwork's knowledge or authorization. This is most likely

a theft of trade secrets

Ross e-mails Super Snowboard Company's marketing campaign to Winter Sports Corporation, Super's competitor, without its permission. This is

a theft of trade secrets

Vicky contracts with Rashad for the delivery of hospice services to benefit Sigmund. This

a third party beneficiary contract

Norma files a petition in bankruptcy. She turns her assets over to O'Brien, who sells them and then distributes the proceeds to Norma's creditors. O'Brien is a

bankruptcy trustee

There is no limit to the amount that can be taken from a debtor's weekly take-home pay through garnishment

false

Delia refuses to pay Ewing $500 in cash on their contract to repair certain theater sets, which Ewing still possesses. Ewing's lien on the sets will terminate

if Ewing voluntarily surrenders possession

James buys a copy of the book Downpour. Later, after reading the book, James sells it to his sister. Under the first sale doctrine, James's sale of the book is

legal

Rollo promises to perform, for a price, shoe repair services in affiliation with Togs 'n Things, a clothing store. To support a contract, the consideration exchanged by the parties must be

legally sufficient

Thirty-one days before filing a petition in bankruptcy, Frida transfers property and makes payments that favor one creditor over another. These are

preferences

Urban City and Thru-way Construction Company enter into a contract that includes calculations. Urban, whose engineer, Sergei, compiled the figures, discovers later that some numbers were added incorrectly, but Thru-way refuses to make changes. Urban can

rescind the contract on the basis of mistake

Under a contract with Bucolic Farms, Agro Excavation, Inc., begins digging an agricultural pond. In mid-project, Agro asks for $15,000 over the contract price, claiming an increase in the "cost of doing business." Bucolic agrees but later refuses to pay. Their agreement is

unenforceable because Agro's performance was a preexisting duty