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1)Alan, a representative of Beta Service Inc., makes an offer to Carol, the owner Delta Products Inc.

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1)Alan, a representative of Beta Service Inc., makes an offer to Carol,
the owner Delta Products Inc., the offer is effective even if
A) Alan does not communicate it to Carol(B) Alan secretly does not
intend to be bound by the offer (C) Carol is not capable of accepting
the offer (D) the terms of the offer are not reasonably definite
2) Eve tells frank that she would like to buy his store. Frank decline
but later decides to sell. He sends Eve and other a flyer describing
the details. Eve responds with a letter of acceptance. Eve and Frank
A) Contract (B) no contract, because Frank sent the letter to more than
one party (C) no contract, because Frank was only inviting bids (D)no
contract, because the letter was an invitation to negotiate
3) Ed advertise a reward for the return of his lost dog. Fran, who does
not know of the reward , finds and return the dog Fran cannot recover
the reward, because
A) Ed has not been unjustly enriched (B) Fran and Ed are not related (C)
Fran conferred a benefit on Ed by returning the dog. (D) Fran did not
know of the reward when she return the dog.
4) Bill offer to sell his Consumer Service Center business to Dina for
$100,000. Dina replies , The price is too high . I will offer to buy it
for $90,000. Dina has
A) accept the offer (B) made a counteroffer without rejecting the offer.
(C) rejected the offer and made a counteroffer (D) rejected the offer
without making a counteroffer
5) Coverage Interstate, Inc (CII) , coordinate an insurance network that
includes 1 million potential patients. By contracting with CII, a
medical provider gains access to the network in exchange for accepting
payments at a lower than prevailing market rates. Doctors, Inc.,
contract with CII but, when a few patients are forthcoming, files a suit
to recover the different between the contract and market rates. Under
the reasoning of case 9.3, Seaview Orthopedics v. National Healthcare
Resources, Inc., the court will likely rule that the contract is.
A) enforceable because consideration is not required for this contract
(B) enforceable because the contract does not lack consideration (C) not
enforceable because Doctor receive few patients (D) not enforceable
because the contract lacks consideration.
6)U.S Brokerage’s promise to pay its employees a year end bonus if it
seems like a good idea at the time is
A) an enforceable contract (B) an illusory contract (C) an
unconscionable contract (D) a unilateral contract
7) On Tad’s eighteenth birthday, he decides that no longer wants to
keep a car he brought from U-Pick Auto Inc., when he was seventeen . His
right to disaffirm the deal will depend on.
A) the car’s condition when Tad brought it (B) the car current
conditions (C) whether Tad acts within a reasonable period of time (D)
whether U-Pick has the right to disaffirm.
8) Doug a minor, signs a contract to buy a truck from Eagle Autos by
misrepresenting his age to be 21. When Doug fails to make the payments
Eagle sues and Doug tries to disaffirm the contract. Doug
A) can return the truck and avoid any further liability (B) can return
the truck but must make an outstanding payment (C) cannot return the
truck (D) is not required to return the truck due to his minority
9) Owen buy a motorcycle while still a minor and continues to maintain
and operate and operate it after reaching the age of majority. Most
courts would hold that he had
A)Disaffirmed the court (B) emancipated the contract (C) ratified the
contract (D) rescinded the contract
10) The state of Illinois enacts a usury statute. The purpose is to
A) establish a maximum rate of interest that may be charged for loans
(B) ) establish a minimum rate of interest that may be charged for loans
(C) prevent the misuse of money advance as loans (D) prevent the misuse
of money paid back on loans
11) First National Bank signs an agreement not to compete with City Bank
that will bar City Bank from continuing to operate in the states in
which both banks do almost all of their business. The agreement is
A) an unreasonable restraint of trade (B) enforceable (C) enforceable if
it is ancillary to an agreement by the First National Bank to purchase
all of the assets of the City Banks
(D) none of above
12) Brad runs an illegal business and pays Carl, a law enforcement
officer, not to interfere . The payment are discovered. Brad and Carl
are sent to prison . Brad can successfully sue Carl for the return of
A) all of the money paid to Carl (B) Only the money paid to Carl that
has been spent (C) only the money paid to Carl that has been spent (D)
none of the above
13) Jay is a stockbroker. Due to Jay’s statements, Jill believe that
the price of OK Goods, Inc (OKGI), a widely traded stock, is going to
increase substantially. Jill buys 500 shares of OKGI at $10 per share,
but the price soon drops to $2. Jill can successfully recover.
A) nothing (B) the amount of the purchase (C) the amount of the purchase
price plus the expected increase (D) the amount of the purchase price
plus the unexpected decrease
14) Dina, an employee of eagle Industries, is injured in a work-related
accident. Based on the diagnosis of Frank, a doctor , Dina accepts
$50,000 from eagle and waives the right to future claims. Frank’s
diagnosis later proves to have been wrong. According to the reasoning of
the court in Case 11.1, Robert v. Century Contractors, Inc., Frank ‘s
misdiagnosis is, in terms of its impact on Dina’s agreement with
A) a mutual mistake of fact (B) a unilateral mistake of fact. (C)
fraudulent misrepresentation (D) no fraudulent misrepresentation
15) In selling networking software to is World Sales Corporation, Beth
tells Wide World’s agent that the software is excellent. This is
A) fraud (B) duress (C) puffery (D) undue influence

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