EXAM II ONLINE - BUL2241 - Question1 4/4points knownas...

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EXAM II ONLINE - BUL2241

Question 1   4 / 4 points An agreement in which a buyer agrees to buy all the goods produced by a manufacturer is known as :
 a requirements contract .
 an output contract .
 an exclusive dealing contract .
 an option contract .
 <p>The correct answer </p><p><strong> An Output contract </strong></p>
Answer:     <p>The correct answer </p><p><strong> An Output contract </strong></p>
Question 2   4 / 4 points " I 'll sell you my car if I decide to sell it " is an example of :
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Question 3   4 / 4 points If Jane persuades Linda to buy her horse by telling Linda that the horse runs " like the wind , " then Jane 's statement is :
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Question 8   4 / 4 points Which of the following elements are necessary for a court to enforce a promise under the doctrine of promissory estoppel ?
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Question 9   4 / 4 points Floyd offers to sell his 1967 Ford Mustang convertible to Tim . Before they conclude their negotiations , Floyd dies . Which of the following is true ?
 Floyd 's heirs must sell the car to Tim .
 Floyd 's heirs must continue to negotiate the offer and sell the car , if a reasonable price can be determined .
 The offer terminates automatically upon Floyd 's death .
 There is a contract if Tim accepts before learning of Floyd 's death .
Question 10   4 / 4 points Police Officer Paul apprehends a wanted criminal and then demands the $ 10,000 reward offered by Crime Stoppers . Which of the following statements is true ?
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Question 11   4 / 4 points Collector Carl displays his beer can collection at the local swap meet . Mary sees the collection and is interested in buying it . Carl says he will sell the collection for $ 1,500 . Mary says she really likes the collection but is only willing to pay $ 1,000 . Which of the following is correct ?
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Question 13   4 / 4 points Mike was previously adjudged to be mentally incompetent . His sister , Teresa , was appointed as his guardian . If Mike calls the Home Shopping Club and orders a 10 ­ carat diamond ring , giving a false credit card number which is a made­up number , the contract is :
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Question 14   4 / 4 points Which of the following types of contracts can not be either contradicted or supplemented by evidence of prior agreements or expressions ?
 Totally integrated contracts .
 Incomplete contracts .
 Ambiguous contracts .
 All of the above .
Question 1 4 / 4 points An agreement in which a buyer agrees to buy all the goods produced by a manufacturer is known as: a requirements contract. an output contract. an exclusive dealing contract. an option contract.
Question 2 4 / 4 points "I'll sell you my car if I decide to sell it" is an example of:
Question 3 4 / 4 points If Jane persuades Linda to buy her horse by telling Linda that the horse runs "like the wind," then Jane's statement is:
Question 4 4 / 4 points The UCC deals with unconscionability in a contract by providing that a court may:
Question 5 4 / 4 points The beneficiary of a life insurance policy would ordinarily be: a creditor beneficiary. an incidental beneficiary. a donee beneficiary. a debtor beneficiary.
Question 6 4 / 4 points
On January 8, Quastrar, Inc. sent Hylavian Company a letter offering to sell $10,000 in restaurant supplies. On January 18, Hylavian mailed a letter to Quastrar accepting the offer. Quastrar received the acceptance letter on January 20. On January 17, Quastrar sent a letter revoking the offer. Hylavian received this letter on January 21. A contract between Quastrar and Hylavian:
Question 7 4 / 4 points When a party to a contract makes a unilateral mistake, the contract:
Question 8 4 / 4 points Which of the following elements are necessary for a court to enforce a promise under the doctrine of promissory estoppel?

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