____________________ is acquiring real property by occupying it for a long period of
time without the owner’s consent.
A principal is liable only for acts the agent is authorized to perform.
A cooperative may be treated as either a(n) ____________________ or a corporation.
To bring a witness into court, he or she must be served with a summons.
Life insurance usually has a deductible feature.
Sargent orally agreed to purchase a piece of land from Babson. To confirm the
agreement, Sargent wrote a letter to Babson that contained all the terms of the
transaction and was signed by Sargent. When Babson refused to sell, Sargent sued for
breach of contract, claiming that the sale was in writing. Is Sargent correct?
A(n) ____________________ is a contract in which ownership and title to goods
passes from seller to buyer for a price.
Ace Trucking and Blair Packaging signed an agreement to lower prices for those
customers who used both their services. Is this an unlawful restraint of trade?
A(n) ____________________ is a written promise by one party to pay a certain sum of
money to another party.
A security interest that is created by law is called a(n) ____________________.