Filters
Question type

Study Flashcards

[Zaltar Zeb] Zeb suffers from delusions that he is from the planet Zaltar. Zeb's contract with DigiTV, his digital television service provider, has expired. After comparing his past payments to the potential savings from satellite television provider SatTV, Zeb decides to sign a two-year contract with SatTV. After six months with SatTV, Zeb realizes he paid less with DigiTV and he now wants to be released from his contract with SatTV. -Trina lists her convertible for sale on Facebook for $12,000, the fair market value. Dion e-mails Trina and offers to buy the car for the price Trina listed. Trina is not aware that Dion had been drinking for the past few hours. Is the contract to buy Trina's car likely to be valid?


A) Yes, but the only relevant question is whether Trina knew Dion was intoxicated; the price is not relevant.
B) Yes, because Trina did not know Dion was intoxicated and the agreement is fair.
C) Yes, because the level of intoxication is the primary factor in determining whether the contract is likely to be valid.
D) No, because intoxicated persons lack capacity to determine fair market value.
E) No, because it is irrelevant that Trina did not know of Dion's intoxication.

F) B) and E)
G) A) and E)

Correct Answer

verifed

verified

How many states engage in at least some regulation of gambling?


A) 50
B) 47
C) 40
D) 35
E) 10

F) C) and E)
G) All of the above

Correct Answer

verifed

verified

[Zaltar Zeb] Zeb suffers from delusions that he is from the planet Zaltar. Zeb's contract with DigiTV, his digital television service provider, has expired. After comparing his past payments to the potential savings from satellite television provider SatTV, Zeb decides to sign a two-year contract with SatTV. After six months with SatTV, Zeb realizes he paid less with DigiTV and he now wants to be released from his contract with SatTV. -LouAnn has spent the past 15 years building a bakery business and her reputation in her small community shows by her high volume of sales and her customer loyalty. Dillon contracts with LouAnn to purchase her bakery. What type of agreement would a court allow Dillion and LouAnn to enter into in the sale of this business?


A) A restrictive covenant
B) A restrictive adhesion contract
C) An exculpatory agreement
D) A usury agreement
E) A performance based agreement

F) A) and E)
G) A) and B)

Correct Answer

verifed

verified

The type of agreement Ines asked the customer with green hair to sign is called a(n) ________.


A) contract of adhesion
B) exculpatory clause
C) procedural misrepresentation
D) substantive clause
E) malfeasance directive

F) B) and E)
G) C) and E)

Correct Answer

verifed

verified

The maximum legal limit for a loan in Walter's state is 5.8%. Keeli charges Walter 23% because she does not trust he can pay back the loan. What is the term for giving a loan at an interest rate that exceeds the legal maximum?


A) Good business practices
B) Loan manipulation
C) Legal loan price inflation
D) Uncustomary
E) Usury

F) A) and C)
G) D) and E)

Correct Answer

verifed

verified

Someone who has been adjudicated insane has no capacity to enter into contracts, and any contract he attempts to enter into is void, even if he has an appointed guardian.

A) True
B) False

Correct Answer

verifed

verified

What was the ruling in Lopez v. Kmart Corporation, the case in the text regarding whether a minor could disaffirm an arbitration clause in an employment contract?


A) Plaintiff did not enter into a valid arbitration agreement with his employer because he was a minor, and therefore the agreement was a nullity.
B) Plaintiff entered into a valid arbitration agreement with his employer, but the employer properly exercised its right to void the contract.
C) Plaintiff entered into a valid arbitration agreement with his employer, but the employer failed to exercise its right to void the contract.
D) Plaintiff entered into a valid arbitration agreement with his employer, but properly exercised his statutory right of disaffirmance, thereby rescinding the arbitration contract and rending it a nullity.
E) Plaintiff entered into a valid arbitration agreement with his employer, but did not properly exercise his statutory right of disaffirmance, thereby he was required to arbitrate.

F) None of the above
G) B) and C)

Correct Answer

verifed

verified

Which of the following is true regarding the obligations of a minor on disaffirmance?


A) In all states, a minor must return any consideration in his control but is entitled to a full refund of any purchase price regardless of the condition of the consideration when returned.
B) In all states, a minor is entitled to a full refund without returning consideration.
C) In all states, a minor must return any consideration in his control, must make restitution, and must pay for any loss in value of the collateral.
D) In all states, a minor only receives a return of half the minor's investment.
E) The obligations of a minor upon disaffirmance vary from state to state.

F) B) and C)
G) A) and E)

Correct Answer

verifed

verified

________ is a term for laws that limit the types of business activities in which parties may legally engage on Sundays.


A) Sunday prohibition laws
B) Christian fellowship laws
C) Blue laws
D) Homestead laws
E) Fellowship laws

F) B) and D)
G) D) and E)

Correct Answer

verifed

verified

________ is when someone has some sort of mental or physical defect that prevents him or her from being able to enter into a legally binding contract.


A) Immortality
B) Legality
C) Incapacity
D) Majority
E) Mental illness

F) All of the above
G) A) and E)

Correct Answer

verifed

verified

Showing 81 - 90 of 90

Related Exams

Show Answer