BUL 3330 Unit 1 - LAW FOR...

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LAW FOR ACCOUNTANCY (BUL3330-01.SP10) (BUL3330-01.SP10) > TOOLS > MY GRADES > VIEW ATTEMPTS > REVIEW ASSESSMENT: UNIT 1
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Review Assessment: Unit 1 James Lawson 1/18/10 9:47 PM Unit 1 Completed 46 out of 49 points Question 1 1 out of 1 points If Jones and Smith enter into a contract for the sale of real property and do not specify the price but rather leave that term open, the contract will still be valid because the UCC provides that contracts with "open" terms are permissible. Selected Answer: Correct Answer: Feedback : Good work Question 2 1 out of 1 points A contract reduced to written form is said to be a formal contract. Selected Answer: Correct Answer: Feedback Good work
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Question 2 1 out of 1 points : Question 3 1 out of 1 points A offers $500 to B if he will climb the flagpole. This is a bilateral contract. Selected Answer: Correct Answer: Feedback : Good work Question 4 1 out of 1 points Informal bilateral contracts do not require consideration. Selected Answer: Correct Answer: Feedback : Good work Question 5 1 out of 1 points When a client visits an attorney for advice it is implied that he will pay for the services rendered and thus it would be an implied contract. Selected Answer: Correct Answer:
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Question 5 1 out of 1 points Feedback : Good work Question 6 1 out of 1 points Contracts must be written to be valid. Selected Answer: Correct Answer: Feedback : Good work Question 7 1 out of 1 points The type of contract imposed by law in order to void unjust enrichment is an express contract. Selected Answer: Correct Answer: Feedback : Good work Question 8 1 out of 1 points Contracts with minors are said to be void. Selected Answer: Correct Answer:
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Question 8 1 out of 1 points Feedback : Good work Question 9 1 out of 1 points A voidable contract is unenforceable by either party if the other party chooses not to be bound.
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