'Business Law Practice Questions\r'

'Business Law invest Questions MULTIPLE CHOICE (answers at bottom of page) 1. capital of Minnesota filed a natural lawsuit for false imprisonment against Dan’s Bookstore. During a visit to Dan’s Bookstore, Dan stopped capital of Minnesota as he left the store. Dan accused capital of Minnesota of stealing a book from the store. After briefly looking into capital of Minnesota’s shopping bag, Dan honor that capital of Minnesota did non shoplift. He apologized to Paul and released him. On these positions, Dan allow for believably: a. b. c. win the case, because the shopkeepers’ privilege codified gives store merchandisers unconditional immunity (protection) from such lawsuits. put up the case, because Paul did non shoplift. in the case, besides moreover if a court or trier of fact concludes that Dan had commonsense cause to believe Paul whitethorn have shoplifted, detained him for a reason qualified time, and in a conceivable manner. lose the case, because Dan did non have a warrant. d.2. Bonds wrote McGuire, â€Å"I leave deal out you my house and dispense at 419 West Lombard Street, San Francisco, California for $950,000 collectable upon merchantable deed, deal to be completed within 60 solar days of the understand of your consentance. ” Assuming that Bonds’ earn contains ground which atomic number 18 deemed sufficiently certain and definite, which of the pursual statements is coiffe? . Bonds’ letter is not an offer unless Bonds mean it to be an offer. b. Bonds’ letter is not an offer unless McGuire thought Bonds intended to make an offer. c. Bonds’ letter is an offer if a bonny soul with full knowledge of the circumstances would be justified in thinking it was intended as an offer.. d. Bonds’ letter is not a offer unless twain Bonds and McGuire considered it as an offer. 3. Iverson Jewelers wrote a letter to Miller, â€Å"We have reliable an exception both y fine self winding Rolox check off which we exit sell to you at a really favorable impairment. ” a. b. c. d.The letter is an offer to sell. A reasonable offer coffin nailnot be made by letter. The letter contains a sensible offer which will push aside within a reasonable time. The letter lacks adept of the essential elements of an offer. 4. mount was negligently driving reciprocal ohm on Merdock Avenue when his gondola car rear-ended a car driven by Patty. The force of the impact pressure Patty to rear-end Terry’s car. In turn, the force of the second impact caused Terry’s car to hit a lamppost, which then push down on a house owned by Paul. The force of the impact scared Paul, causing him to directly have a heart attack.Paul sues Don for negligence. If Paul recovers, the most likely reason is: a. b. c. d. Paul was able to prove that Don proximately caused Paul’s injuries. Paul was able to prove that the damages he suffered were very cause d by Don. Paul was able to prove that Don despoiled a duty of due care owed by Don to Paul. Paul was able to prove all of the above (a, b & c). 5. Sammy agreed to sell and Larry agreed to buy Sammy’s car for $400, remunerationable upon take overy. Sammy delivered and left the car with Larry. However, Larry failed to pay Sammy the $400.After eight years had passed pursual the delivery and bridal of the car by Larry, Sammy sued Larry in state court for failure to pay him the $400. Based only on the above bring facts, which of the following statement is most accurate? impinge on the UCC applies and the statute of limitations for oral weightlifts is two years and for compose aims is four years. a. No contract was ever created among Sammy and Larry. b. A contract was created but likely not enforceable because the statute of limitations has expired. c. A contract was created, but it is only enforceable if it is in writing. d.A contract was created and is enforceab le. 6. apex purchased a can of Sipep from the Ajax Minimart. After he ideal drinking the Sipep, Bill noticed that the can contained beat(p) insects stuck on the inside bottom of the can. In a stringent product liability tort process against Ajax, Bill must prove, among other things, that: a. b. c. d. Ajax is a merchant selling Sipep. Ajax knew or should have known of the tough condition. Ajax had prior notice of other similar problems with Sipep products. Ajax really placed the dead insects into the can.7. Under which of the following situations does strict product liability apply? . b. c. d. Sale of a defective and unreasonably dangerous product. Manufacture of a defective and unreasonably dangerous product. Both (a) and (b) are go under. Neither (a) nor (b) are correct. 8. On whitethorn 1, Back-Talk calculator Store offerd to sell five (5) computer servers to doorman Company for $5,000. 00 each, delivery to be on whitethorn 30. Later that day ( may 1), doorkeeper respon ded that it would buy the computers only if they were delivered within three someoneal credit line days. Back-Talk notified Gatekeeper the nigh day, May 2, that it would not be able to deliver the goods within the time requested by Gatekeeper.Which of the following is true regarding Back-Talks offer? a. There is no contract among Back-Talk and Gatekeeper. b. Gatekeepers additional term became part of the contract, so Back-Talk is obligated to deliver the goods within three business days. c. Back-Talks offer was accepted by Gatekeeper d. Gatekeeper may later accept Back-Talk’s May 1 offer if it is then willing to accept delivery in four weeks. 9. The body of law which establishes rights between persons and provides for redress for violation of those rights is known as: a. b. c. d. Criminal Law. Civil Law.The Uniform Commercial Code. descry decisis. 10. Donny threw a knife at scissure, intending to injure her severely. However, Donny mazed Sally. Sally saw the knife just as it whizzed by her head, missing it by about whizz inch. As a result, Sally was very scared. Sally sued Donny for assault and battery. Which of the following is most correct? a. b. c. d. Donny will be liable for battery, but not assault. Donny will be liable for assault, but not battery. Donny will be liable for assault and for battery. Donny will not be liable for either assault or battery because this is only a criminal matter. 1. In most states the following types of contracts are within the statute of frauds. a. b. c. d. Contracts for the sale of an interest in personal property. Contracts that can be performed within a year from the date of their formation. Contracts for the sale of goods. Contract sfor the sale of goods for a price of $500 or more. 12. On May 1, 2005, Eckerly immovable Inc. mailed a scripted offer to masse for the sale of an office building. The offer included an express term that it would expire on June 30, 2005 if the acceptance was not delivered into t he hands of the offeror by the expiration date.On June 30, 2005 at 8:00 a. m. , Masse sent a written acceptance to Eckerly via Masse’s personal messenger. However, the messenger was not able to deliver the acceptance until July 1, 2005. On July 2, 2005, Eckerly contacted Masse, informing him that the acceptance had been delivered one day late. As a result, Eckerly refused to honor the acceptance. Which of the following is the most correct statement? a. There is no contract between Eckerly and Masse. However, if Masse would have mailed the acceptance on June 30, 2005, a contract would have been created. b. There is a contract between Eckerly and Masse.The moment that Masse gave the acceptance to the messenger, a contract was formed because acceptances are valid immediately upon dispatch. c. There is a contract between Eckerly and Masse. The fact that the acceptance arrived only one day late is of no significance. d. There is no contract between Eckerly and Masse. 13. Which of the following statements is correct concerning the â€Å"reasonable person” standard in tort law? a. The reasonable person standard varies from person to person. b. The reasonable person standard focuses on the defendant’s unverifiable mental state rather than on the defendant’s behavior. c.A person with a physical deterioration must act as would a reasonable person with the same disability. d. A person with a mental disability must act as would a person with the same mental disability. 14. Robert makes the following statement while negotiating the sale of his car, â€Å"This is the sharpest car on the market. ” His statement may support a rent for: a. b. c. d. misrepresentation. fraud. fraud and misrepresentation. none of the above. 15. Paula rented an flat tire to Dave for $500 per month. Paula and Dave sign(a) a one-year lease, to be effective first January 1st. After three months, Dave decided that he did not like the apartment.He gave Paula a 30-day written notice, stating that he would upset the rental unit at the end of the thirty days, which was April 30th. Upon receipt of Dave’s notice, Paula made reasonable efforts to find a new tenant. Nevertheless, the apartment remained vacant from May 1 st. through June 30 th. Paula re-rented the apartment beginning July 1 st. for one year. Paula sues Dave in small claims court. What is the likely outcome? a. Paula is entitled to the balance of the lease, or $4,000, because Dave did not have a valid reason to breach the contract. b. Paula is entitled to nothing, because Dave gave Paula thirty-days written notice. c.Paula is entitled to $1,000, because she tried to find another tenant immediately upon learning of Dave’s intent to breach the contract, but was unable to re-lease the apartment until July 1 st. d. Paula is entitled to $500, which represents one-month’s rent. 16. Tom and Jerry entered into a contract whereby Tom agreed to sell Jerry $1,000 val ue of heroin, an illegal substance. This is an example of a: a. b. c. d. quasi contract. profane contract. voidable contract. secondary party beneficiary contract. revise: 01/06 Answers to Business Law Practice Questions 1. c 2. c 3. d 4. d 5. b 6. a 7. c 8. a 9. b 10. b 11. d 12. d 13. c 14. d 15. c 16. b\r\n'