midtermbusiness - Week 4 : Property: Real Property and...

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Week 4 : Property: Real Property and Mortgages; Landlord and Tenant - Midterm Time Remaining:      Page:  1   2    Page 1   1.  TCO A: Which of the following contracts is not required to be in writing under the Statute of Frauds?  (Points : 5)          A contract to be performed in less than 1 year         A contract made in consideration of a promise to marry         A contract involving the sale of land         A contract for the sale of goods of $500 or more         A contract to pay someone else's debt if that person fails to 2.  TCO A: Which of the following best describes duress?  (Points : 5)          A situation where a trust relationship has been violated in forming a contract         A situation where a party has improperly given the other party no alternative but to enter into a contract         A situation where one party has lied to the other to lead them to enter into a contract         A situation where, after the contract was negotiated, circumstances have changed so that one of the parties is in a desperate circumstance and cannot reasonably perform 3.  TCO A: Which of the following will not generally automatically terminate an open offer?  (Points :  5)          Death of the offeror         Death of the offeree         Changed economic circumstances         Destruction of the subject matter of the contract         Supervening illegality of the object of the contract 4.  TCO A: Offeror says, I'll sell you my car for $10,000. Offeree says, I accept your offer but will pay $9,700. As a result, at this point  (Points : 5)          There are two open offers.         This was a conditional acceptance.         Offeror must sell car to offeree if offeree gives offeror $10,000.         The only open offer is for $9,700.
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5.  TCO B: Under Article 2 of the UCC, a contract is usually enforceable even if which of the following terms is omitted?  (Points : 5)          Price         Quantity         Price or quantity         Neither price nor quantity may be omitted 6.  TCO B: If a seller delivers nonconforming goods prior to the date that delivery is due, the seller has the opportunity to make the shipment conform under the
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This note was uploaded on 10/28/2011 for the course B LAW b law taught by Professor Blaw during the Spring '11 term at Keller Graduate School of Management.

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midtermbusiness - Week 4 : Property: Real Property and...

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