BUL4310: Legal Environment M3A2: Module

BUL4310:Legal EnvironmentM3A2: Module QuizWhich of the following cannot be upheld by a court of law because of some rule of law?Unenforceable contractThe rule that an innocent party is not permitted to take advantage of a breach by deliberatelyraising the level of damages that the other party will have to pay as a consequence of the breachis known as:Duty to mitigateTheis a model set of laws designed to govern almost all commercial transactions.Uniform Commercial CodeHenrietta offers a $500 reward for the return of Fifi, her lost dog. Silas finds and returns the dog.This is an example of a(n):Unilateral contractWhich of the following is true of fair courts?They heard cases involving commercial disputesBeth, 15, enters into a written contract with Joan, also 15. In the contract, Beth agrees to doJoan's math homework for two weeks for $50, which Joan agrees to pay at the end of the two-week period. This contract is:Voidablecharacterizes any system of law that is consistently applied in the same evenhanded way,no matter who the antagonists might be.NeutralityA(n)type of contract may be canceled by one of the parties.VoidableA proposal made by Braxton, to his friend Mike, indicating willingness to enter a contract to buyMike's old car for $4000, fulfills which element of the formalist theory of contract law?Mutual AssentIn terms of "contracts and other agreements", which of the following statements is true?An agreement may or may not be legally enforceableWebtel Services, Inc. and Acme Co. sign a document which states that Webtel Services willcreate a web page for Acme and that Acme will pay for this work. This is an example of a(n):Express contractMatrix, Inc. contracts with Smalltown Economic Development Corp. to build a factory inSmalltown that will employ 10,000 workers. Matrix later breaches this contract. Smalltowncitizens who are unemployed sue Matrix for breach of its contract. Matrix's best defense tocitizen suits involves the legal doctrine of:Privity of contract BUL4310: Legal EnvironmentM3A2: Module QuizWhich of the following contracts should be in writing to be enforceable in courts under theStatute of Frauds?Contract to pay the debt of anotheroutlines the laws and the procedures followed by merchants in commercial transactions.Uniform Commercial CodeWhich of the following elements of a contract require an offeror to make a valid offer to enter acontract in terms that are clear and ambiguous and communicated to the offeree, and the offerhas been properly made by the offeror and accepted properly by the offeree.Mutual Assent