Business Law Wk 3 MID TERM EXAM

Business Law Wk 3 MID TERM EXAM - Week 3: Agreement,...

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Week 3: Agreement, Consideration, and Competence - Midterm Exam Help 1. No law enacted either by Congress or by a state legislature may conflict with the U.S. Constitution. (Points: 5) True False 2. The Uniform Commercial Code makes the laws of commercial transactions uniform from one state to another. (Points: 5) True False 3. Statute law refers to decisions made by English courts on the basis of local customs. (Points: 5) True False 4. A court’s jurisdiction is its power to hear and decide a case. (Points: 5) True False 5. Unlawfully striking another person would be an assault. (Points: 5) True False 6. Tort law deals with “private wrongs”. (Points: 5) True False 7. If a contract is legal but fails to meet some requirement of the law then it is unilateral. (Points: 5) True False 8. A counteroffer is an offer made by offeree to offeror changing the terms of original offer. (Points: 5) True
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False 9. Consideration must include money. (Points: 5) True False 10. Refraining from doing something one has a legal right to do is known as forbearance. (Points: 5) True False 11. Which of the following is not a source of law in the United States? (Points: 5) Constitutions Statutes Court decisions All of these are sources 12. _______________ establishes rules that protect the rights and property of individuals from harmful acts by other individuals. (Points: 5)
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This note was uploaded on 04/21/2011 for the course BUSINESS 2003-1 taught by Professor Cutchen during the Spring '09 term at Walden University.

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Business Law Wk 3 MID TERM EXAM - Week 3: Agreement,...

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