(Solution)-Minors can disaffirm a contract unless


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5. Minors can disaffirm a contract unless: Select one:a. The minor has ratified the contract upon reaching majority b. The contract is for real estate and the minor has reached majority c. The minor has given a true statement about age d. The minor is not required to place the adult in status quo7. The means used by an offeror to communicate the offer: Select one:a. Is the impliedly authorized means for accepting regardless of circumstances b. Is the impliedly authorized means for accepting unless the circumstances do not indicate otherwise c. Is the only authorized means of communication for accepting d. Always follows the offeror's particular trade usage in communication9. Ben makes an agreement with Seth for Seth to steal Professor Smith's laptop computer. The agreement between Ben and Seth is: Select one:a. Voidable b. Void c. C.Valid d. Unenforceable12. Which of the following statements is true of the Trade Related Aspects of Intellectual Property Agreement? Select one:a. It permits nations to issue compulsory licenses when a patent holder does not make patented goods available to the public b. It prevents least developed nations from using compulsory licenses to guarantee the production of low-cost drugs c. It prevents developing nations from installing safeguards as protection against low-cost drugs being resold in the developed world d. It permits the developed nations to issue inventor's certificates which would entitle its holder to exclusive use of the creation 26. There is no voluntary consent in a mutual mistake if: Select one:a. There is a confidential relationship b. The mistaken party is able to rescind if it meets certain conditions c. The plaintiff was induced to make an unfavorable agreement d. There is untrue belief by both parties about a material fact29. The Organization for Economic Cooperation and Development (OECD) does all of the following except: Select one:a. Monitor the institutional and policy framework of corporations b. Is an international organization created to promote harmonized rules among corporations c. Assert that most company codes tend to speak in positive terms such as a commitment to honesty d. Assert that most enterprises' codes of conduct expressly publish policies that deal directly with corruption30. If an offeree dispatches both an acceptance and a rejection to an offer: Select one:a. The acceptance is effective as soon as it is dispatched and a contract is created b. The rejection is effective as soon as it is dispatched and no contract can be created c. Neither the acceptance nor the rejection is effective and another response must be issued d. Whichever response reaches the offeror first will determine whether a contract is created35. In a duress, there is no voluntary consent if: Select one:a. Either party can rescind b. There is a confidential relationship c. The plaintiff's free will has been overcome d. The mistaken party is able to rescind if it meets certain conditions38. All of the following under the UCC are ways to communicate acceptance except: Select one:a. Any means deemed reasonable by the court in light of the circumstances b. Dispatches that comply with any express or stipulated requirements for acceptance c. Any form of acceptance implied by trade usage d. A means slower and safer than the way the offer was communicated40. When parties fail to expressly agree on the terms of a sales contract: Select one:a. The contract is automatically void b. The contract will not be enforceable under the UCC c. The contract will not fail if the court finds that the parties intended to make a contract and that their agreement is complete enough to allow the court to reach a fair settlement of their dispute d. The contract will fail if the court finds that the parties are acting as though they have a contract and it is impossible to point to a particular moment in time when the contract was created43. In an auction: Select one:a. Acceptance occurs when an offeror makes the highest bid b. Bidders are treated as offerors c. An item cannot be withdrawn from sale prior to acceptance d. The seller is required to accept the final offer when the auction is advertised as being "with reserve"46. Identify the statement which is true of a minitrial. Select one:a. In a minitrial, a six-member mock jury empaneled by the court hears a shortened presentation of the case by the lawyers for each side and renders an advisory verdict b. If a settlement is not reached in a minitrial, neutral third-party advisor will render a nonbinding opinion regarding how the dispute is likely to be resolved if it goes to trial c. The minitrial is conducted under court guidance, while the summary jury trial is voluntarily conducted by the parties themselves d. The minitrial differs from mediation in that the third party to whom the dispute is submitted decides the outcome 47. In addition to demonstrating actual emotional distress, if a third party wants to recover negligent infliction of emotional distress, a plaintiff must show that: Select one:a. The emotional distress caused to the witness resulted in physical symptoms or injuries b. The third party is at least distantly related to the victim c. The third party witnessed or some way perceived the injury when it occurred d. The emotional distress caused to the witness is so serious that he/she may not recover from it49. A treaty becomes "the supreme law of the land" when: Select one:a. It lends predictability to decisional law by relying on prior decisions b. It is an agreement made by the President with a foreign government and two thirds of the Senate ratifies it c. It establishes rules that govern certain kinds of activities, such as the use of automobiles on highways d. It adds details to the government framework by establishing a regulatory agency50. District courts: Select one:a. Review the legal conclusions reached by lower federal courts b. Are the intermediate courts of the federal court system c. Have both fact-finding (by the judge or jury) and law-finding (by the judge) functions d. Operates under discretionary review


Solution ID:10086579 | Question answered on 16-Oct-2016

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