Business Law Practice Questions

Business Law Practice Questions MULTIPLE plectron (answers at bottom of page) 1. capital of Minnesota filed a lawsuit for false poundage against Dans Bookstore. During a visit to Dans Bookstore, Dan stopped Paul as he left the store. Dan accused Paul of stealing a obtain from the store. afterwards briefly looking into Pauls shopping bag, Dan obdurate that Paul did not shoplift. He apologized to Paul and released him. On these facts, Dan entrust promising a. b. c. win the case, because the shopkeepers privilege statute gives store merchants unconditional immunity (protection) from such(prenominal) lawsuits. lose the case, because Paul did not shoplift. in the case, still wholly if a court or trier of fact concludes that Dan had reason competent cause to conceptualise Paul whitethorn present shoplifted, detained him for a reasonable time, and in a reasonable manner. lose the case, because Dan did not have a warrant. d.2. Bonds wrote McGuire, I bequeath sell you my house and lot at 419 West Lombard Street, San Francisco, California for $950,000 collectable upon merchantable deed, deal to be completed inside 60 old age of the date of your espousal. Assuming that Bonds earn contains terms which are deemed sufficiently indisputable and definite, which of the succeeding(a) republicments is correct? . Bonds garner is not an offer unless Bonds intended 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 reasonable mortal with full knowledge of the comp onenessnt part would be justified in thinking it was intended as an offer.. d. Bonds letter is not a offer unless both Bonds and McGuire considered it as an offer. 3. Iverson Jewelers wrote a letter to Miller, We have received an exceptionally fine self winding Rolox hold which we will sell to you at a very favorable wrong. a. b. c. d.The letter is an offer to sell. A sound offer suffernot be made by letter. The letter contains a valid offer which will terminate indoors a reasonable time. The letter lacks one of the es moveial elements of an offer. 4. dupe was negligently driving south on Merdock Avenue when his railroad car hoboed a car driven by Patty. The force of the impact forced Patty to rear-end terrys car. In turn, the force of the second impact caused Terrys car to hit a lamppost, which then fell on a house owned by Paul. The force of the impact panicked Paul, causing him to immediately have a heart attack.Paul sues Don for negligence. If Paul recovers, the around likely reason is a. b. c. d. Paul was able to prove that Don proximately caused Pauls injuries. Paul was able to prove that the damages he suffered were actually caused by Don. Paul was able to prove that Don recrudesceed a duty of due care owed by Don to Paul. Paul was able to prove all of the above (a, b & c). 5. Sammy hold to sell and Larry agreed to buy Sammys car for $400, yieldable upon deliverance. S ammy delivered and left the car with Larry. However, Larry failed to pay Sammy the $400.After eight years had passed following the delivery and acceptation of the car by Larry, Sammy sued Larry in state court for failure to pay him the $400. Based only on the above stated facts, which of the following statement is most close? Assume the UCC applies and the statute of limitations for oral contracts is two years and for compose contracts is quadruple years. a. No contract was ever created mingled with Sammy and Larry. b. A contract was created just now likely not enforceable because the statute of limitations has expired. c. A contract was created, only if it is only enforceable if it is in writing. d.A contract was created and is enforceable. 6. Bill purchased a faeces of Sipep from the Ajax Minimart. After he finished drinking the Sipep, Bill noticed that the can contained loose insects stuck on the inside bottom of the can. In a severe product liability civil wrong actio n against Ajax, Bill moldiness prove, among other(a) things, that a. b. c. d. Ajax is a merchant selling Sipep. Ajax k invigorated or should have known of the bad condition. Ajax had prior notice of other similar problems with Sipep products. Ajax actually placed the dead insects into the can.7. Under which of the following situations does strict product liability apply? . b. c. d. exchange of a speculative and unreasonably dangerous product. Manufacture of a defective and unreasonably dangerous product. Both (a) and (b) are correct. Neither (a) nor (b) are correct. 8. On May 1, Back-Talk Computer Store offerd to sell five (5) computer servers to porters beer Company for $5,000. 00 each, delivery to be on May 30. Later that solar day (May 1), door guard responded that it would buy the computers only if they were delivered within three business days. Back-Talk notified Gatekeeper the next day, May 2, that it would not be able to deliver the goods within the time requested by Ga tekeeper.Which of the following is true regarding Back-Talks offer? a. in that location is no contract between 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 current by Gatekeeper d. Gatekeeper may later accept Back-Talks 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 invasion of those rights is known as a. b. c. d. Criminal Law. Civil Law.The Uniform Commercial Code. see decisis. 10. Donny threw a knife at Sally, intending to injure her severely. However, Donny missed Sally. Sally byword the knife just as it whizzed by her head, missing it by somewhat one inch. As a result, Sally was very scared. Sally sued Donny for infringement and battery. Which of the following is most correct? a. b. c. d. Donny will be credible for battery, b ut 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 sinful matter. 1. In most states the following types of contracts are within the statute of frauds. a. b. c. d. Contracts for the deal 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 $ cholecalciferol or more. 12. On May 1, 2005, Eckerly Realty Inc. mailed a written offer to masse shot for the sale of an office building. The offer include an express term that it would expire on June 30, 2005 if the acceptance was not delivered into the detainment of the offeror by the expiration date.On June 30, 2005 at 800 a. m. , Masse sent a written acceptance to Eckerly via Masses personal courier. However, the messenger was not able to deliver the accept ance 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 reasonable person standard in tort law? a. The reasonable person standard varies from person to person. b. The reasonable person standard focuses on the defendants sub jective mental state rather than on the defendants behavior. c.A person with a fleshly disability 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, This is the sharpest car on the market. His statement may support a claim for a. b. c. d. misrepresentation. fraud. fraud and misrepresentation. none of the above. 15. Paula rented an flatbed to Dave for $500 per month. Paula and Dave signed a one-year lease, to be effective beginning 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 vacate the rental unit at the end of the cardinal days, which was April 30th. Upon receipt of Daves notice, Paula made reasonable efforts to check a new tenant. Nevertheless, the apartment remained vacant from May 1 st. throu gh 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 matter? 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 Daves 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-months rent. 16. gobbler and Jerry entered into a contract whereby Tom agreed to sell Jerry $1,000 worth of heroin, an wicked substance. This is an example of a a. b. c. d. quasi contract. void contract. voidable contract. secondary company beneficiary contract. Revised 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 1 4. d 15. c 16. b