Module 5 Test Graded Results.docx - Review Test Submission...

This preview shows page 1 - 4 out of 10 pages.

Review Test Submission: Module Five Test - Question 1 2.5 out of 2.5 pointsA contract most likely will be declared unconscionable if
Question 2 2.5 out of 2.5 pointsRudolph overhears Macy's plans to go skydiving over spring break. Not really knowing Macy, but figuring it's worth a chance, Rudolph rushes out and buys an insurance policy for $100,000 on Macy's life. Macy does in fact meet her demise jumping out of the airplane. Rudolph can collect the $100,000.
Question 3 2.5 out of 2.5 pointsRoger parked his car at a garage that has a large sign at the entrance saying, "This garage is not liable for items stolen from a car." This type of notice is referred to as an exculpatory clause.
Question 4 2.5 out of 2.5 pointsIn a non-compete agreement, the term "ancillary" means that
Question 5
2.5 out of 2.5 pointsWhen Randy, an electrician, accepted a job with Buren Construction, Randy signed the following agreement: "Upon termination of my employment with Buren Construction, I agree never to work for another employer as an electrician." If Randy resigns from Buren Construction, this agreement would be upheld under the theory of freedom of contract.
Question 6 2.5 out of 2.5 pointsAccording to Section 2-302 of the UCC, if a court finds as a matter of law that a clause of a contract was unconscionable at the time the contract was made, the court must refuse to enforce the contract.
Question 7 2.5 out of 2.5 pointsVirginia borrowed money from G & 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?
Question 8 2.5 out of 2.5 pointsA contract may violate public policy even if the agreement does not violate a statute.
Question 9 2.5 out of 2.5 pointsLarry 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?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture