Question 1

Which of these can be a valid contract agreement under ESIGN?

Accepted Answer

A) A fax 
B) A PDF file 
C) An online click or check on an "I accept" button 
D) All of the above 
A) A fax 
B) A PDF file 
C) An online click or check on an "I accept" button 
D) All of the above

Question 2

Which of the following is not a violation of the ECOA?

Accepted Answer

A) requiring a husband's signature when his wife applies for a credit card 
B) requiring disclosure of pregnancy 
C) requiring disclosure of length of time at current job 
D) requiring disclosure of marital status 
E) All of the above are violations of the ECOA. 
A) requiring a husband's signature when his wife applies for a credit card 
B) requiring disclosure of pregnancy 
C) requiring disclosure of length of time at current job 
D) requiring disclosure of marital status 
E) All of the above are violations of the ECOA.

Question 3

Under the UCC and between nonmerchants,additional terms in acceptance:

Accepted Answer

A) constitute a counteroffer. 
B) are part of the contract. 
C) result in rejection or the original offer. 
D) none of the above 
A) constitute a counteroffer. 
B) are part of the contract. 
C) result in rejection or the original offer. 
D) none of the above

Question 4

The following exchange took place in a series of e-mails between Mitchell Raines and Leslie Carroll: Mitchell: I am looking at the Trek bike advertised on your website for $650.00.Would you take $600.00?
Leslie: I would take $600 if there were no delivery required.?Mitchell: Well,I have to have it delivered because you are two states away.?Leslie: Well,then if there has to be delivery,I could do it for $630.00.?Mitchell: Is that cash??Leslie: Yes.

Accepted Answer

A) Mitchell and Leslie have a contract for the sale and purchase of the bike for $630.00 with delivery. 
B) Mitchell and Leslie have a contract for the sale and purchase of the bike for $630.00 without delivery. 
C) Mitchell and Leslie have an offer on the table of $600 with no delivery. 
D) Mitchell and Leslie do not have a contract. 
A) Mitchell and Leslie have a contract for the sale and purchase of the bike for $630.00 with delivery. 
B) Mitchell and Leslie have a contract for the sale and purchase of the bike for $630.00 without delivery. 
C) Mitchell and Leslie have an offer on the table of $600 with no delivery. 
D) Mitchell and Leslie do not have a contract.

Question 5

Trevor Jones accepted a summer internship with Hailey & Thomas,a management consulting firm.The negotiations and offer were all oral.Hailey & Thomas' managing partner did send a letter with the following language:??Welcome to Hailey & Thomas.We are looking forward to working with you.When you arrive in New York,please call me so that we may help you locate lodging for the summer.
-Is there a contract?

Accepted Answer

Yes,under the UCC,the shipment

Question 6

Which of the following is $\underline{\text{not}}$ required for a valid UCC offer?

Accepted Answer

A) quantity 
B) payment terms 
C) subject matter 
D) both b and c 
E) a, b, and c 
A) quantity 
B) payment terms 
C) subject matter 
D) both b and c 
E) a, b, and c

Question 7

Under the UCC,an acceptance followed by additional terms is a counteroffer and a rejection.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is $\underline{\text{not}}$ a risk associated with international contracting?

Accepted Answer

A) Currency exchange rates 
B) Transportation costs 
C) Fee collection 
D) None of the above 
A) Currency exchange rates 
B) Transportation costs 
C) Fee collection 
D) None of the above

Question 9

The UCC Battle of the Forms provision allows additional terms in an acceptance without invalidating the acceptance.

Accepted Answer

A) True 
 B)False

Question 10

Under common law,a counteroffer is also a rejection.

Accepted Answer

A) True 
 B)False

Question 11

Contracts for services are governed by the UCC.

Accepted Answer

A) True 
 B)False

Question 12

The Uniform Electronic Transaction Act (UETA):

Accepted Answer

A) has been adopted in all 50 states. 
B) has been declared unconstitutional. 
C) is the same as E-sign. 
D) none of the above 
A) has been adopted in all 50 states. 
B) has been declared unconstitutional. 
C) is the same as E-sign. 
D) none of the above

Question 13

Void and voidable contracts are one and the same.

Accepted Answer

A) True 
 B)False

Question 14

John: "I will sell you my laptop computer for $330."?Mary: "Will you include the carrying case"??John: "Sold."

Accepted Answer

A) There is a contract for the sale of the computer with the carrying case. 
B) There is a contract for the sale of the computer but the carrying case is not included. 
C) There is no contract for the sale of the laptop computer. 
D) There is a contract but it is unenforceable because it must be in writing. 
E) none of the above 
A) There is a contract for the sale of the computer with the carrying case. 
B) There is a contract for the sale of the computer but the carrying case is not included. 
C) There is no contract for the sale of the laptop computer. 
D) There is a contract but it is unenforceable because it must be in writing. 
E) none of the above

Question 15

Evaluate the following facts and then answer the following questions:
Day 1$\quad$ $\quad$ S sends a letter to B with the following:  “I will sell you my Play Station 3 for $150.”
Day 2$\quad$ $\quad$ B receives the letter and responds, “I will take the Play Station for $150, but include 3 games.”
-B has made a valid acceptance.

Accepted Answer

A) True 
 B)False

Question 16

A three-year warranty on an oven need be evidenced by a record to be enforceable.

Accepted Answer

A) True 
 B)False

Question 17

The CISG follows the mirror image rule in formation.

Accepted Answer

A) True 
 B)False

Question 18

Evaluate the following facts and then answer the following questions:
Day 1$\quad$$\quad$S sends a letter to B with the following: "I will sell you my Play Station 3 for $150 when I get my new Play Station."
Day 2$\quad$$\quad$B receives the letter and responds,"I will take the Play Station for $150."
-The communication between S and B must be evidenced by a record if any rights related to the exchange can be enforced.

Accepted Answer

A) True 
 B)False

Question 19

The following series of events occurred between Bull's Meat Market and The Butcher:?
May 1 - The Butcher faxes Bull's and offers to buy 200 lbs.of T-bone steak at $3.29 per lb.
May 2 - Bull's faxes back: "Price is okay.Payment prior to delivery."?Bull's and The Butcher:

Accepted Answer

A) have a contract on May 2 with the payment term. 
B) have a contract on May 2 without the payment term. 
C) do not have a contract. 
D) none of the above 
A) have a contract on May 2 with the payment term. 
B) have a contract on May 2 without the payment term. 
C) do not have a contract. 
D) none of the above

Question 20

Implied contracts are unenforceable.

Accepted Answer

A) True 
 B)False

Which of these can be a valid contract agreement under ESIGN?

Which of the following is not a violation of the ECOA?

Under the UCC and between nonmerchants,additional terms in acceptance:

Which of the following is $\underline{\text{not}}$ required for a valid UCC offer?

Under the UCC,an acceptance followed by additional terms is a counteroffer and a rejection.

Which of the following is $\underline{\text{not}}$ a risk associated with international contracting?

The UCC Battle of the Forms provision allows additional terms in an acceptance without invalidating the acceptance.

Under common law,a counteroffer is also a rejection.

Contracts for services are governed by the UCC.

The Uniform Electronic Transaction Act (UETA):

Void and voidable contracts are one and the same.

John: "I will sell you my laptop computer for $330."?Mary: "Will you include the carrying case"??John: "Sold."

A three-year warranty on an oven need be evidenced by a record to be enforceable.

The CISG follows the mirror image rule in formation.

The following series of events occurred between Bull's Meat Market and The Butcher:? May 1 - The Butcher faxes Bull's and offers to buy 200 lbs.of T-bone steak at $3.29 per lb. May 2 - Bull's faxes back: "Price is okay.Payment prior to delivery."?Bull's and The Butcher:

Implied contracts are unenforceable.

Introduction to Law

Business Ethics and Social Responsibility

The Judicial System

Managing Disputes: Alternative Dispute Resolution and Litigation Strategies

Business and the Constitution

Administrative Law

International Law

Business Crime

Business Torts

Environmental Regulation and Sustainability

Contracts and Sales: Performance,Remedies,and Collection

Product Advertising and Liability

Business Competition: Antitrust

Business and Intellectual Property Law

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management of Employee Welfare

Management: Employment Discrimination

Filters

Exam 11: Contracts and Sales: Introduction and Formation

Which of these can be a valid contract agreement under ESIGN?

Which of the following is not a violation of the ECOA?

Under the UCC and between nonmerchants,additional terms in acceptance:

Which of the following is not‾\underline{\text{not}}not​ required for a valid UCC offer?

Under the UCC,an acceptance followed by additional terms is a counteroffer and a rejection.

Which of the following is not‾\underline{\text{not}}not​ a risk associated with international contracting?

The UCC Battle of the Forms provision allows additional terms in an acceptance without invalidating the acceptance.

Under common law,a counteroffer is also a rejection.

Contracts for services are governed by the UCC.

The Uniform Electronic Transaction Act (UETA):

Void and voidable contracts are one and the same.

John: "I will sell you my laptop computer for $330."?Mary: "Will you include the carrying case"??John: "Sold."

A three-year warranty on an oven need be evidenced by a record to be enforceable.

The CISG follows the mirror image rule in formation.

The following series of events occurred between Bull's Meat Market and The Butcher:? May 1 - The Butcher faxes Bull's and offers to buy 200 lbs.of T-bone steak at $3.29 per lb. May 2 - Bull's faxes back: "Price is okay.Payment prior to delivery."?Bull's and The Butcher:

Implied contracts are unenforceable.

Introduction to Law

Business Ethics and Social Responsibility

The Judicial System

Managing Disputes: Alternative Dispute Resolution and Litigation Strategies

Business and the Constitution

Administrative Law

International Law

Business Crime

Business Torts

Environmental Regulation and Sustainability

Contracts and Sales: Performance,Remedies,and Collection

Product Advertising and Liability

Business Competition: Antitrust

Business and Intellectual Property Law

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management of Employee Welfare

Management: Employment Discrimination

Filters

Which of the following is $\underline{\text{not}}$ required for a valid UCC offer?

Which of the following is $\underline{\text{not}}$ a risk associated with international contracting?