The kind of signature required to satisfy the statute of frauds must be
a. handwritten.
b. typed.
c. printed.
d. all of these.
Rodell Construction Co. contracted to build several greenhouses for Delmar Corp. The
specifications in the contract called for the use of Apex glass. By mistake Rodell
installed Remco glass which is of slightly lesser quality than Apex, but in all other
respects met Delmar’s needs. Which of the following statements is correct?
a. Rodell must install Apex glass or Delmar will not be obligated to accept the
greenhouses.
b. Delmar’s recovery will be limited to money damages because Rodell’s breach of
contract was not material.
c. Delmar will not be able to recover any damages from Rodell because the breach was
inadvertent.
d. Rodell did not breach the construction contract because Remco glass was
substantially as good as the Apex glass.
When a joint tenant dies, the deceased tenant’s interest in the property passes to
a. the deceased’s heirs.
b. the surviving joint tenants.
c. the person named in the deceased’s will.
d. none of these.
Which of the following requirements must be met for a transferee of order paper to
become a holder?
a. Possession only
b. Indorsement and transfer only
c. Possession and indorsement of transferor
d. All of these.
One way for a retail merchant to avoid liability in a false arrest suit by a customer
suspected of shoplifting is to prove that
a. no security guard was on duty.
b. the customer consented to being detained.
c. the store manager was new.
d. the customer really didn’t shoplift.
Of the following, the only group not covered by Social Security is
a. aliens.
b. federal government employees.
c. teachers.
d. self-employed persons.
An intoxicated person may avoid a contract on becoming sober
a. only if the other party had reason to know that the person was drunk and did not
understand the consequences of the transaction.
b. under any circumstances.
c. only if he or she was slightly intoxicated.
d. only if the contract is one for necessaries.
Reynolds sent Winston a check for $1,000 as payment on a debt. The check was dated
March 1, but Winston did not present the check to Wider National Bank, the drawee,
until October 8 the same year. If Wider National Bank refuses to pay the check,
claiming it is stale, then it becomes liable to
a. Reynolds.
b. Winston.
c. both Reynolds and Winston.
d. no one.
Jameson and French entered into a contract in which Jameson was required to deliver
merchandise to French by January 19. On January 5, Jameson told French that he
(Jameson) had no intention of delivering the merchandise required by the contract. Prior
to January 19, French may successfully sue Jameson for
a. accord and satisfaction.
b. substantial performance.
c. liquidated damages.
d. anticipatory breach.
Of the following, the one that is not an equitable remedy is
a. punitive damages.
b. specific performance.
c. an injunction.
d. rescission.
A corporation terminates
a. if stockholders agree that it should.
b. if the corporate term ends.
c. if there is a consolidation.
d. all of these.
A good defense against a holder in due course is
a. payment at or before maturity.
b. material alteration.
c. slight duress.
d. lack of delivery.
Another name for a “meeting of the minds” is
a. mutual assent.
b. lapse of time.
c. a request for further information.
d. an invitation to make an offer.
The purpose of food product labeling is
a. to protect the health of consumers.
b. to help consumers compare the quality of similar products.
c. to indicate a product’s freshness.
d. all of these.
A person who rents a room from a hotelkeeper for a short time is called a
a. transient.
b. business guest.
c. boarder.
d. patron.
At least four out of nine justices must agree to hear an appeal from a state or federal
court before a case comes before the U.S. Supreme Court.
Sometimes a breach occurs before the performance date of a contract. What is this type
of breach called?
A(n) ____________________ is an adult appointed by the courts to have custody and
care of an incompetent party.
All states have community property laws.
A wrongful act can be both a crime and a tort.