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Bus110 - StraighterlineExam #3 1 - When interpreting contracts, courts:Select one:a. Give technical words an ordinary meaningb. Give ordinary words their usual meaning c. Give ambiguous words in favor of the party who drafted the contractd. Give non-technical words any meaning intended by the defendantFeedbackThe correct answer is: Give ordinary words their usual meaningQuestion 2Correct5.00 points out of 5.00Flag questionQuestion textAn award for loss in value of a promised performance is:
Question 3Correct5.00 points out of 5.00Flag questionQuestion textStatutes that require proof of character and skill and impose a penalty for violation are considered to be:Question 4Correct5.00 points out of 5.00Flag questionQuestion textThe word "Mitigate" denotes:
Question 5Correct5.00 points out of 5.00Flag questionQuestion textThe time limit set by the UCC statute of limitations for contracts involving the sale of goods is:Select one:a. Four years b. Five yearsc. Ten yearsd. Twenty yearsFeedbackThe correct answer is: Four yearsQuestion 6Correct5.00 points out of 5.00Flag question
Question textHarry Hotdog is hired as an accountant by a large Indianapolis-based accountingfirm. The firm's attorney drafts an employment contract which contains the following clause: "Employee agrees that he will not engage in the practice of accounting in Indianapolis for one year after termination of his employment withthis firm." Hotdog signs the contract, works for six months and then resigns and opens his own accounting firm in Indianapolis. His former employer sues him for breach of contract and is likely to: