Exam 12: Contracts and Sales: Introduction and Formation

Buyer on fax: "Will take house for $587,500 if front lawn is fixed." Seller on fax in response: "Price is $589,000 and no front lawn." Buyer on fax in response: "$588,000 plus the front lawn." Seller on fax in response: $589,000 plus the front lawn."

(Multiple Choice)

4.8/5

(28)

Question 121

Day 1: A wires an offer to B Day 2: B receives the offer Day 3: B phones an acceptance A states, "Too late. I changed my mind." Which of the following statements is true?

(Multiple Choice)

4.8/5

(34)

Question 122

Which of the following questions on a credit application would be a violation of ECOA?

(Multiple Choice)

4.7/5

(30)

Question 123

Assume there is a credit contract for the purchase of the following items. Which one is not covered by TILA disclosures?

(Multiple Choice)

4.9/5

(37)

Question 124

Day 1 - School teacher sends superintendent letter of resignation. Day 4 - Superintendent mails letter accepting resignation. Day 5 - School teacher hand delivers letter withdrawing resignation. Day 6 Teacher receives superintendent's letter.

(Multiple Choice)

4.8/5

(41)

Question 125

Contracts for services are governed by the UCC.

(True/False)

4.9/5

(36)

Question 126

Which of the following questions is prohibited under the ECOA?

(Multiple Choice)

5.0/5

(33)

Question 127

The subprime lending market collapse in 2007 led to other credit crunches and business impacts.

(True/False)

4.9/5

(26)

Question 128

Implied contracts are unenforceable.

(True/False)

4.8/5

(34)

Question 129

A contract for rebinding 500 books at a cost of $1.50/book is governed by the UCC.

(True/False)

4.8/5

(34)

Question 130

The subprime lending market uses title loans.

(True/False)

4.8/5

(32)

Question 131

Barnes & Noble faxes to Woodchip Publishing Company on May 1, 2002 the following: Please ship immediately six copies of NOBODY FIXES REAL CARROT STICKS ANYMORE. Price: $6.00 Shipping: $2/book Woodchip ships six books with an invoice as follows: Six NOBODY FIXES REAL CARROT STICKS ANYMORE @ $6.00 = $36.00 Shipping and Handling = $6.00 Is there a contract?

(Essay)

4.8/5

(35)

Question 132

Discuss what colleges and universities must do under CARD for their students.

(Essay)

4.8/5

(32)

Question 133

Which of the following eliminates the effect of the mailbox rule?

(Multiple Choice)

4.9/5

(43)

Question 134

A credit application that asks for criminal convictions from the last five years violates the ECOA.

(True/False)

4.9/5

(37)

Question 135

Many states have imposed additional steps for making loans in the subprime lending market.

(True/False)

4.8/5

(40)

Question 136

Andy: "This is to confirm our telephone conversation of earlier today. 200 lbs. of T-bone at $2.89 per pound." Barb: "Yes, but that's 100 pounds at $2.99." Andy: "Too late, we already reached agreement by phone." Barb: "Too bad, it wasn't in writing." Which of the following statements is true?

(Multiple Choice)

4.8/5

(35)

Question 137

The UCC has no timing rules for acceptance.

(True/False)

4.8/5

(31)

Question 138

An applicant for credit need not disclose spousal support income if he is not relying on it as an income source.

(True/False)

4.9/5

(40)

Question 139

A negative credit decision cannot be based on an applicant's plans for having children.

(True/False)

4.7/5

(35)

Question 140

Showing 121 - 140 of 152

Buyer on fax: "Will take house for $587,500 if front lawn is fixed." Seller on fax in response: "Price is $589,000 and no front lawn." Buyer on fax in response: "$588,000 plus the front lawn." Seller on fax in response: $589,000 plus the front lawn."

Day 1: A wires an offer to B Day 2: B receives the offer Day 3: B phones an acceptance A states, "Too late. I changed my mind." Which of the following statements is true?

Which of the following questions on a credit application would be a violation of ECOA?

Assume there is a credit contract for the purchase of the following items. Which one is not covered by TILA disclosures?

Day 1 - School teacher sends superintendent letter of resignation. Day 4 - Superintendent mails letter accepting resignation. Day 5 - School teacher hand delivers letter withdrawing resignation. Day 6 Teacher receives superintendent's letter.

Contracts for services are governed by the UCC.

Which of the following questions is prohibited under the ECOA?

The subprime lending market collapse in 2007 led to other credit crunches and business impacts.

Implied contracts are unenforceable.

A contract for rebinding 500 books at a cost of $1.50/book is governed by the UCC.

The subprime lending market uses title loans.

Discuss what colleges and universities must do under CARD for their students.

Which of the following eliminates the effect of the mailbox rule?

A credit application that asks for criminal convictions from the last five years violates the ECOA.

Many states have imposed additional steps for making loans in the subprime lending market.

Andy: "This is to confirm our telephone conversation of earlier today. 200 lbs. of T-bone at $2.89 per pound." Barb: "Yes, but that's 100 pounds at $2.99." Andy: "Too late, we already reached agreement by phone." Barb: "Too bad, it wasn't in writing." Which of the following statements is true?

The UCC has no timing rules for acceptance.

An applicant for credit need not disclose spousal support income if he is not relying on it as an income source.

A negative credit decision cannot be based on an applicant's plans for having children.

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

Cyberlaw, Social Media, and Privacy

Environmental Regulation and Sustainability

Contracts: Performance, Remedies, and Rights

Sales: Product Advertising and Liability

Products: Business Intellectual Property

Business Competition: Antitrust

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management: Employee Welfare

Management: Employment Discrimination

Filters

Exam 12: Contracts and Sales: Introduction and Formation

Buyer on fax: "Will take house for $587,500 if front lawn is fixed." Seller on fax in response: "Price is $589,000 and no front lawn." Buyer on fax in response: "$588,000 plus the front lawn." Seller on fax in response: $589,000 plus the front lawn."

Day 1: A wires an offer to B Day 2: B receives the offer Day 3: B phones an acceptance A states, "Too late. I changed my mind." Which of the following statements is true?

Which of the following questions on a credit application would be a violation of ECOA?

Assume there is a credit contract for the purchase of the following items. Which one is not covered by TILA disclosures?

Day 1 - School teacher sends superintendent letter of resignation. Day 4 - Superintendent mails letter accepting resignation. Day 5 - School teacher hand delivers letter withdrawing resignation. Day 6 ­ Teacher receives superintendent's letter.

Contracts for services are governed by the UCC.

Which of the following questions is prohibited under the ECOA?

The subprime lending market collapse in 2007 led to other credit crunches and business impacts.

Implied contracts are unenforceable.

A contract for rebinding 500 books at a cost of $1.50/book is governed by the UCC.

The subprime lending market uses title loans.

Discuss what colleges and universities must do under CARD for their students.

Which of the following eliminates the effect of the mailbox rule?

A credit application that asks for criminal convictions from the last five years violates the ECOA.

Many states have imposed additional steps for making loans in the subprime lending market.

Andy: "This is to confirm our telephone conversation of earlier today. 200 lbs. of T-bone at $2.89 per pound." Barb: "Yes, but that's 100 pounds at $2.99." Andy: "Too late, we already reached agreement by phone." Barb: "Too bad, it wasn't in writing." Which of the following statements is true?

The UCC has no timing rules for acceptance.

An applicant for credit need not disclose spousal support income if he is not relying on it as an income source.

A negative credit decision cannot be based on an applicant's plans for having children.

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

Cyberlaw, Social Media, and Privacy

Environmental Regulation and Sustainability

Contracts: Performance, Remedies, and Rights

Sales: Product Advertising and Liability

Products: Business Intellectual Property

Business Competition: Antitrust

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management: Employee Welfare

Management: Employment Discrimination

Filters

Day 1 - School teacher sends superintendent letter of resignation. Day 4 - Superintendent mails letter accepting resignation. Day 5 - School teacher hand delivers letter withdrawing resignation. Day 6 Teacher receives superintendent's letter.