Business Law Chapter 10 Review:. Case for Legal Thinking page 187 Read case for Legal Thinking on...
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Transcript of Business Law Chapter 10 Review:. Case for Legal Thinking page 187 Read case for Legal Thinking on...
Case for Legal Thinking page 187
• Read case for Legal Thinking on page 187 and answer the questions below.–Would the outcome be different if the Ransbergs’
had know Haase was not an architect?
– Are Haase’s failure to meet the terms of the contract relevant to this case?
To refrain from informing on or prosecuting an alleged crime in
exchange for money or other valuable consideration.*
Created by a court action to prevent unjust enrichment. (Kind of like a
contract with a part missing)
Which of the following would constitute an agreement that obstructs
legal procedures?
• Paying expert witnesses in a trial.
• Promising to inform on an alleged crime without receiving money or any other form of compensation.
• Bribing jurors.
• Paying the legal rate of interest on a loan.
Which of the following would constitute an agreement that obstructs
legal procedures?
• Paying expert witnesses in a trial.
• Promising to inform on an alleged crime without receiving money or any other form of compensation.
• Bribing jurors.*
• Paying the legal rate of interest on a loan.
An integration clause states that both parties ________ the terms in the
written contract constitute the entire agreement.
• Disagree that
• Agree that
• Argue about whether
• Don’t care whether
• All of the above.
An integration clause states that both parties ________ the terms in the
written contract constitute the entire agreement.
• Disagree that
• Agree that*
• Argue about whether
• Don’t care whether
• All of the above.
What are the elements of a lottery?
• Prize, skill, and consideration.
• Prize, chance, and consideration.
• Prize, chance, and lack of capacity.
• Prize, skill, and chance.
What are the elements of a lottery?
• Prize, skill, and consideration.
• Prize, chance, and consideration.*
• Prize, chance, and lack of capacity.
• Prize, skill, and chance.
Which agreement unreasonably restrains trade and injures
competition by having competitors divide markets among themselves.
• Allocation of markets.• Bid rigging.• Resale price maintenance.• Price Fixing.
Which agreement unreasonably restrains trade and injures
competition by having competitors divide markets among themselves.
• Allocation of markets.*• Bid rigging.• Resale price maintenance.• Price Fixing.
With a(n) ________ contract, separate consideration is given for the legal and
illegal parts.• Illegal
• Divisible
• Indivisible
• Unconscionable
• All of the Above
With a(n) ________ contract, separate consideration is given for the legal and
illegal parts.
• Illegal• Divisible*• Indivisible• Unconscionable• All of the Above
Which of the following would be required to hold a competency
license?• A farmer.• A shoemaker.• A dentist.• A garbage collector.
Which of the following would be required to hold a competency
license?• A farmer.
• A shoemaker.
• A dentist.*
• A garbage collector.
When one company agrees that one bidder will have the lowest bid, this is
called
• An allocation of markets.
• A resale maintenance.
• A monopoly.
• Bid Rigging
• None of these.
When one company agrees that one bidder will have the lowest bid, this is
called• An allocation of markets.• A resale maintenance.• A monopoly.• Bid Rigging*• None of these.
Lending money at higher rates than the state’s maximum allowed interest
rate is known as.• Utilitarianism• Usury• Loan sharking• Time-price differential.
Lending money at higher rates than the state’s maximum allowed interest
rate is known as.
• Utilitarianism
• Usury*
• Loan sharking
• Time-price differential.
If an employee agrees not to compete with his or her employer after the
employment terminates, this is called:
• A monopoly.• A prohibited act.• Blue sky laws.• A Non-compete contract.• None of the above.
If an employee agrees not to compete with his or her employer after the
employment terminates, this is called:
• A monopoly.• A prohibited act.• Blue sky laws.• A Non-compete contract.*• None of the above.
Parole statements can be admitted to prove which of the following?
• Fraud• Illegality• A conflicting agreement existed before signing• Both A and B.• None of the above.
Parole statements can be admitted to prove which of the following?
• Fraud• Illegality• A conflicting agreement existed before signing• Both A and B.*• None of the above.
Statute of Frauds
• Read the following cases and decide if the contract must be within or without the Statute of Frauds.
Specially manufactured non-resalable goods, with a value of $10,000.
• Within the Statute of Frauds
• Without the Statue of Frauds
Specially manufactured non-resalable goods, with a value of $10,000.
• Within the Statute of Frauds
• Without the Statue of Frauds*
Contracts not required to be in writing.
• Within the Statute of Frauds
• Without the Statue of Frauds
Contracts not required to be in writing.
• Within the Statute of Frauds
• Without the Statue of Frauds*
Contract to do a friend’s income taxes for the next calendar year.
• Within the Statute of Frauds
• Without the Statue of Frauds
Contract to do a friend’s income taxes for the next calendar year.
• Within the Statute of Frauds*
• Without the Statue of Frauds
Contract to pump crude oil from under a farmer’s land.
• Within the Statute of Frauds
• Without the Statue of Frauds
Contract to pump crude oil from under a farmer’s land.
• Within the Statute of Frauds*
• Without the Statue of Frauds
A partnership to agree to sell real estate but without a time limit on how
long the partnership will last..
• Within the Statute of Frauds
• Without the Statue of Frauds
A partnership to agree to sell real estate but without a time limit on how
long the partnership will last..
• Within the Statute of Frauds
• Without the Statue of Frauds*
A promise to a creditor to pay your brother’s debts if he cannot.
• Within the Statute of Frauds
• Without the Statue of Frauds
A promise to a creditor to pay your brother’s debts if he cannot.
• Within the Statute of Frauds*
• Without the Statue of Frauds
A promise to a debtor to pay his auto loans if he cannot.
• Within the Statute of Frauds
• Without the Statue of Frauds
A promise to a debtor to pay his auto loans if he cannot.
• Within the Statute of Frauds*
• Without the Statue of Frauds
Contracts to buy and sell goods for a price of less than $500.
• Within the Statute of Frauds
• Without the Statue of Frauds*