QUIZ 8 - LEGALITY - Questions Question1 1/1point...

This preview shows page 1 - 2 out of 5 pages.

QUIZ 8 - LEGALITY

Question 1   1 / 1 point Virginia borrowed money from G and L Lending at 35 % interest per year . The state maximum interest rate is 20 % per year . Virginia defaulted on the loan . What amount can G& L collect from Virginia ?
 G and L will be able to collect the principal plus 20 % interest per year .
 G and L will be able to collect the principal but not any interest .
 G and L will not be able to collect either the principal or interest .
 All of the above may be correct . The answer depends on the particular state law .
Question 2   1 / 1 point E­mation , Inc hires Marvin to steal trade secrets from one of its competitors for $ 10,000 . Marvin demands half of the money up front . E­mation pays Marvin $ 5000 but Marvin decides not to pursue theft of the trade secrets . E­mation sues Marvin for the return of the $ 5000 . What will the court do with this contract ?
Get answer to your question and much more
Question 4   1 / 1 point E­mation entered into a contract with a consumer , Ezra . Ezra was a recent immigrant to the United States , spoke very little English , and had no formal education . The contract provided for Ezra to pay $ 2500 for a computer system . The system was worth $ 400 . If E­ mation sued Ezra under the contract , what is the most likely result ?
Get answer to your question and much more
Question 6   1 / 1 point Barb has been a children 's day care provider for several years in the small town of Sallton . She has decided to give it all up and move to the big city for excitement and adventure . She sells her business to Ken , agreeing not to open a competing business within five miles of Sallton for a period of nine months . After five months of the big city life , Barb is broke and moves back to Sallton . She opens a small day care business . Ken sues on the noncompete clause . What is the most likely result ?
Get answer to your question and much more
Question 8   1 / 1 point Larry has the largest pizza business in the city . He learns that Henry is thinking of opening a competing pizza and pasta delivery business . Larry gives Henry $ 25,000 to not open his proposed business in the same city . Which statement is correct ?
 The contract is voidable at Larry 's option .
 The contract is void for lack of consideration .
 The contract is illegal and void .
 The contract is enforceable .
Questions Question 1 1 / 1 point Virginia borrowed money from G and L Lending at 35% interest per year. The state maximum interest rate is 20% per year. Virginia defaulted on the loan. What amount can G& L collect from Virginia? G and L will be able to collect the principal plus 20% interest per year. G and L will be able to collect the principal but not any interest. G and L will not be able to collect either the principal or interest. All of the above may be correct. The answer depends on the particular state law.
Question 2 1 / 1 point E­mation, Inc hires Marvin to steal trade secrets from one of its competitors for $10,000. Marvin demands half of the money up front. E­mation pays Marvin $5000 but Marvin decides not to pursue theft of the trade secrets. E­mation sues Marvin for the return of the $5000. What will the court do with this contract?
Question 3 1 / 1 point Which of the following exculpatory clauses will most likely be enforceable?
Question 4 1 / 1 point E­mation entered into a contract with a consumer, Ezra. Ezra was a recent immigrant to the United States, spoke very little English, and had no formal education. The contract provided for Ezra to pay $2500 for a computer system. The system was worth $400. If E­ mation sued Ezra under the contract, what is the most likely result?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture