ETH321 Final Exam - 1 Myra offers to sell her home to Hanna...

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1. Myra offers to sell her home to Hanna for “about $100,000 plus closing costs.” Hanna accepts Myra’s offer, but later a dispute arises concerning the precise dollar amount of the purchase price. How will a court resolve this dispute? The court will determine a reasonable price to be paid by Hanna. 2. Federal law and business leaders alike favor ____________ as a means of governing private business ethics. self-regulation by companies 3. Ethical formalists maintain that: harm to individual rights is never justified by an increase in organizational or common good. 4. Frequent, abusive, threatening phone calls by creditors are most likely to provoke the basis for a claim of _____________. intentional infliction of emotional distress 5. Which of the following is true in cases where only one party drafts the contracts that contain terms that appear vague and ambiguous to the other party? The court will interpret the terms as they mean in the common language 6. Civil enforcement powers regarding federal antitrust matters belong to _______. the FTC and the Department of Justice 7. In a(n) ___________, the shareholders are taxed only on income distributed. Corporation 8. Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order and both Betty and Fred enjoy the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and
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