B usurious agreements C common office sports D illegal gambling Question 12 of

B usurious agreements c common office sports d

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B. usurious agreements.
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C. common office sports. D. illegal gambling. Question 12 of 20 5.0 Points To protect the public, most states require persons engaged in certain businesses, professions, and occupations to be: A. contractual.
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B. monopolized. C. licensed. D. unlicensed. Question 13 of 20 5.0 Points When a contracting party dies, contract rights are assigned to the:
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A. parents of the deceased person. B. heirs of the deceased person. C. administrator or executor of the estate. D. spouse of the deceased person. Question 14 of 20 5.0 Points
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The laws dealing with bankruptcy provide that the assets and contracts of a bankrupt person or business be: A. sold to the highest bidder. B. assigned to the trustee in bankruptcy. C. held by the court pursuant to a decree. D. transferred to the largest creditor.
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Question 15 of 20 5.0 Points A person who is not a party to a contact but is intended by the contracting parties to benefit as a consequence of a contract is termed a(n): A. third party beneficiary. B. incidental beneficiary.
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C. official receiver. D. arbitrator. Question 16 of 20 5.0 Points If a tender of payment is refused by the creditor: A. the debt is irrecoverable. B. penalties can be charged beyond the date on which the
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offer of payment was made. C. the debt is not canceled. D. interest can be charged beyond the date the offer of payment was made. Question 17 of 20 5.0 Points All of the following requirements must be met for a tender of money or performance to be valid EXCEPT:
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A. the tender must be made as specified in the contract. B. the mention of money in a contract implies payment by check. C. when tender of payment is made, it must be for the exact amount. D. if the contract calls for the delivery of specific goods, only the tender of these particular goods will satisfy the contract. Question 18 of 20
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5.0 Points If a contract calls for the delivery of specific goods, the contract will be satisfied with the tender of: A. only those particular goods. B. any substitute goods of the same value. C. alternate goods of less value.
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D. substitute goods of greater value. Question 19 of 20 5.0 Points A deliberate change of an important element in a written contract that affects the rights or obligations of the parties is known as a(n): A. mitigation. B. breach of contract.
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C. material alteration. D. injunction. Question 20 of 20 5.0 Points If a law is passed after the parties enter into a contract that makes performance illegal, the contract is: A. terminated by operation of law.
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B. void from the beginning. C. terminated by alteration.
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