Oral Contracts And Enforceability

Which of the following is a correct statement? Group of answer choices Plato likely would object to the hierarchy of authority found today in the typical business corporation. For Aristotle, the highest good is the fulfillment of the physical senses, though he counsels moderation in seeking pleasures. Aristotle maintains in the Doctrine of the Mean that the virtuous or moral choice is a rationally determined mean between two extremes of deficiency or excess. An intelligent person resolves all moral issues by appealing to what most people feel is moral.

In order to be enforceable, a covenant-not-to-compete must be reasonable in each of the following aspects except: Group of answer choices Length of time the restriction is in effect. Scope (i.e. interests protected) by the restriction. Amount paid to the one who gives up the right to compete. Geographic area of the restriction.

Which of the following is a true statement? Group of answer choices The Bill of Rights in the U.S. Constitution confers absolute rights, not subject to interpretation by the U.S. Supreme Court. Political speech that would otherwise be protected by the U.S. Constitution's First Amendment loses that protection if its source is a corporation since many corporations are big and powerful. Tort law provides legal remedies for only property damages intentionally or negligently caused. To commit an intentional tort, a person typically must either intend the consequences of his or her act or know with substantial certainty that certain consequences will occur.

Which of the following is TRUE about the consideration requirement for a valid contract? Group of answer choices The common law is only concerned with the presence of consideration, not the adequacy of consideration. Forbearance, that is, a promise not to do something, cannot be consideration. The promisor is the person to whom a promise is made. Modification of a common law contract does not required new consideration, only an agreement between the parties.

Bio Box Company advertises and markets so effectively that Product Packaging, Inc., stops doing business with Styro Cartons, Incorporated, and switches its account to Bio. Bio is liable for Group of answer choices appropriation. conversion. wrongful interference with a business relationship. none of the above.

The Golden Rule, "Do onto others as you would want them to do unto you," is most directly reflected by what ethical theory? Group of answer choices Ethical relativism Utilitarianism Aristotle's Doctrine of the Mean Kantian ethics

Which of the following is true? Group of answer choices Offers may not be legally revoked before they are accepted under U.S. law since it would be unethical to do so. An express contract must be in a formal writing prepared by an attorney. Parties cannot form a contract without putting the terms in writing. An executed contract is one that has been fully performed by all the parties to the contract.

If an important contract term is ambiguous, the contract under the common law is Group of answer choices Probably illegal as against public policy Probably enforceable Probably unconscionable Probably unenforceable

Nora's best criticism of Utilitarianism is that it Group of answer choices Encourages unethical behavior Fosters conformance with society's standards Mandates acting in the employer's best interest Results in human costs that many persons find unacceptable.

Which of the following is a TRUE statement? Group of answer choices Trespass to chattels (or personal property) always requires very serious damage or destruction to the property. The right of self-defense can only be used to protect oneself or one's family and not one's property. The tort of negligence applies to people acting in a purposeful wrongful manner who cause harm. The doctrine of Proximate Cause holds that a careless defendant is only liable for the reasonably foreseeable harmful consequences of his or her careless act.

Which of the following is a false statement? Group of answer choices An employee also may act in the capacity of an agent. An independent contractor's physical manner of doing a job is controlled, or is subject to the control, by his or her employer. A principal has a duty to cooperate with his or her agent. A principal generally is required to indemnify an agent for liabilities incurred because of authorized and proper acts by the agent.

Excel Corporation agrees to sell the latest version of its Go! computer game to National Retail Company. Excel delivers an outdated version of Go! (nonconforming goods). National's possible remedies may include Group of answer choices recovering damages only. rejecting part or all of the goods, or revoking acceptance only. recovering damages, rejecting goods, or revoking acceptance. none of the above.

Which of the following is a true statement? Group of answer choices In order to create an agency relationship there must always be a written agreement prepared by an attorney. An agency that comes into existence due to the acts or conduct of the parties is called an express agency. Agency by ratification can occur in a situation where there was no authority for the agent's actions when the agent originally undertook them. An apparent agency can only be created by the actions of the agent.

If a buyer delivers nonconforming goods prior to the date that delivery is due, the seller can make the shipment conform and avoid breaching the sales contract under the: Group of answer choices Time to conform rule. Right to make perfect. Reasonable delay doctrine. Right to cure.

Which of the following is a true statement? Group of answer choices Excuplatory clauses in contracts are typically upheld by the courts. A non-compete agreement in the contract for the sale of a business will not be found to violate public policy if it meets the tests of reasonableness. All gambling agreements are illegal contracts since gambling is immoral. The age of majority for contracting in most states is *.

To be deemed sufficient, the consideration of a contract must Group of answer choices Have precise monetary value Be fair and ethical Have legal value Be a moral obligation

Which of the following is a false statement? Group of answer choices An agent has no duty to disclose her agency status to third parties with whom the agent deals. An agent who enters into a contract with another party on behalf of the principal impliedly warrants that he has the authority to do so. A principal may be liable for the tort of fraud committed by the agent if the agent makes misrepresentations to a third party in the course of negotiating a contract for the principal. The basic rule for whether an employer is liable for the tort of negligence committed by his or her employee is whether the employer knew of the employee's commission of the tort.

Under the doctrine of strict tory liability for products: Group of answer choices A flaw in product can make it defective A lack of a warning can make a product defective A product can be defective because defectively designed even if it is not flawed All of the above.

Under the common law: Group of answer choices A unilateral mistake generally will not provide relief to the mistaken contract party. A mutual mistake generally will provide relief to the aggrieved party. A unilateral palpable mistake can provide relief to the mistaken contract party. All of the above.

Which of the following is a false statement? Group of answer choices The negligent act of smoking in a careless manner could be construed as being within the scope of the employee's employment. When determining whether or not the employee's intentional tort was committed while the employee was operating within the scope of his or her employment, the courts will examine the employee's motivation and whether the conduct was related to his or her work. The legal doctrine that holds that an employer is liable for the negligence of an employee who is acting within the scope of his or her employment is called Respondeat Superior. Under the "coming and going" (commuting) to work rule, an employer usually is liable for injuries caused by its employees while they are on their way to and from work.

Which of the following is a TRUE statement about partnerships? Group of answer choices Partners always have the power, though not necessarily the right, to dissolve a partnership. A court cannot order the dissolution of a partnership as that matter is left up to the sole discretion of the partners. A partnership cannot own real property since it is merely an association of individual partners. Dissolution will automatically terminate a partnership.

An oral contract for the sale of land generally is: Group of answer choices Void. Enforceable. Voidable. Unenforceable.