The remedy of specific performance will be granted only if
a. the buyer cannot buy substitute goods elsewhere.
b. the goods are unique.
c. the goods are no longer being offered for sale by other sellers.
d. all of these.
The type of business organization formed most easily is the
a. limited liability company.
b. sole proprietorship.
c. limited partnership.
d. partnership.
The statute of frauds applies only to
a. executed contracts.
b. executory contracts.
c. informal contracts.
d. formal contracts.
Rhode gave National Oil Company the right to lay a pipeline under Rhode’s property.
This right is
a. a license.
b. eminent domain.
c. an easement.
d. an accretion.
Reba was appointed as administrator of her father’s estate. She orally promised Mintz, a
creditor of the estate, that if there were inadequate funds in the estate, she (Reba) would
pay the debt from her personal funds. To be enforceable, the agreement must be
a. in writing.
b. for debts over $500.
c. for debts for personal property only.
d. for a period of less than one year.
The body of legal decisions made by English court judges over a period of many years
was called
a. constitutional law.
b. administrative law.
c. statute law.
d. common law.
After a minor reaches the legal age of majority, he or she may disaffirm an executed
contract for a luxury made while a minor only if he or she
a. accurately represented his or her age when the item was purchased.
b. acts within a reasonable length of time.
c. disaffirms in writing.
d. returns the luxury item in new or unused condition.
A written contract or memorandum must be signed by
a. both parties.
b. either party.
c. the party to be held liable.
d. the party bringing suit.
Arnold contracted to sell Bielar an office building for $500,000. The entire amount
according to the contract was to be paid at the closing. Arnold refused to close the deal.
Bielar sued Arnold. To what relief is Bielar entitled?
a. Punitive damages
b. Injunction
c. Specific performance
d. Rescission
Knebel’s parents promised her $3,000 if she would not marry before age twenty-one.
Knebel agreed. This agreement is
a. void.
b. valid.
c. unenforceable.
d. illegal.
Renee made out a check payable to Dawn. Dawn had the check certified by First
National, the drawee bank, and then indorsed it to Quatro, who is the present holder.
What effect does certification have on the parties?
a. Renee alone is discharged from liability.
b. Dawn alone is discharged from liability.
c. First National becomes primarily liable, and both Renee and Dawn are discharged
from liability.
d. Renee remains secondarily liable.
A pretrial device used to prevent surprises during the actual trial of a civil case is called
a. a notice of appearance.
b. a complaint.
c. a voir dire.
d. discovery.
If a person feels that he or she has been injured by the actions of someone else, he or
she may start a court action against that person to obtain relief by filing a
a. complaint.
b. judgment.
c. subpoena.
d. summons.
For federal income tax purposes, a Chapter S corporation is treated as
a. sole proprietorship.
b. partnership.
c. limited partnership.
d. corporation.
A check is an example of a
a. contract implied in law.
b. contract implied in fact.
c. quasi contract.
d. formal contract.
A person hired to sell one’s car would be considered a
a. general agent.
b. special agent.
c. power of attorney.
d. business agent.
When a client accepts the services of his or her attorney without an agreement
concerning fees to be paid, the agreement to pay the attorney’s bill is
a. implied in law.
b. implied in fact.
c. a voidable contract.
d. no contract at all.
The major difference between an agent who is paid and a gratuitous agent is the
a. amount of time spent on agency business.
b. type of work the agent may perform.
c. amount of authority the agent has.
d. right to refuse to carry out the principal’s instructions.
You did some electrical work for a new neighbor who recently moved in next door.
However, you are concerned about the check you received from the neighbor for your
services. Frankly, you wonder if the neighbor has money to cover the amount of the
check simply because you owe Marlin, a friend money and wish to pass your neighbor’s
check along to her. When indorsing the check, what can you do to protect yourself if
Marlin has trouble collecting from your neighbor?
A procedure that occurs when the accused is brought before a judge, formally notified
of the charges in the indictment, and asked to plead either guilty or not guilty is called
a(n) ____________________.
Personal duties under a contract cannot be transferred without ____________________.
A person who pretends to be an agent is not liable on any contract.
The person named to administer the estate of a person making a will is called a(n)
____________________.
A qualified indorsement limits the ____________________ of the indorser.
Stockholders who cannot attend stockholders’ meetings may allow others to vote for
them by issuing proxies.
Tearing up a person’s lawn by deliberately driving over it constitutes the tort of
____________________.
Unlicensed workers are generally permitted to recover money they earn if the licensing
statute is merely intended to obtain ____________________.