BULE Departmental Notes
BULE Departmental Notes BULE 001
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This 1 page Class Notes was uploaded by Laurence Champlin on Monday September 28, 2015. The Class Notes belongs to BULE 001 at George Mason University taught by Staff in Fall. Since its upload, it has received 47 views. For similar materials see /class/215103/bule-001-george-mason-university in Legal Environment Of Business at George Mason University.
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Date Created: 09/28/15
EXAM 2 Multiple Choice Practice Questions Directions Indicate the best answer for the following multiple choice questions by circling it 1 An newspaper advertisement for apples at 49 cents a pound will likely be interpreted by a court as a an invitation to the public to make an offer b an enforceable offer c a voidable offer d an void offer 2 Which of the following can be legally effective when sent under the quotmail boxquot rule a acceptances b rejections c revocations d o ers 3 The quotmirror image rule a is not strictly followed under Article 2 of the Uniform Commercial Code b is mandatory under the common law of contracts c applies to acceptances d all of the above 4 Under the judge made contract rules the correct manner in which to accept an offer for a unilateral contract is to a perform the act requested in the offer b give a return promise c send an acceptance of the offer by mail d any of the above 5 Rick a minor contracted to sell his auto to Ed a 28year old Rick later refused to complete the sale If Ed sues to enforce the contract Ed will probably a win because of the doctrine of res ipsa laquilar b win because minors can only avoid contracts for the sale of land c lose as the contract is legally void d lose because the contract is voidable by the minor 6 Which of the following contracts would generally not have to be evidenced by a signed writing in order to be enforceable a a sale of goods for 490 b a transfer of an ownership interest in real propert c a promise to be secondarily liable for the debt of another person d an agreement which cannot possibly under its terms be fully performed within one year from the time it was made 7 Amy contracts to buy Kim s business Kim agrees not to compete with Amy for three months in the same city Two months later Kim opens a competing business six blocks away Amy a cannot enforce the contract because it is unconscionable b cannot enforce the contract because it is a restraint of trade c can enforce the contract because all covenants not to compete are valid d can enforce the contract because it is reasonable in scope and duration 8 The implied warranty of merchantability a Guarantees that purchased goods are fit for ordinary uses b Must be made in a signed writing to be effective c Applies to sales of goods and services by merchants d All of the above 9 The firm offer rule a Only applies to sales of goods b Only applies where the seller is a merchant c Only applies when the offer is in a signed writing d All of the above 10 Flo tells Gregory that she will buy his textbook from last semester for 65 Gregory verbally agrees Flo and Gregory have a a fully executed contract b an impliedinfact contract c a formal contract an express contract 11 The National Highway Traffic Safety Administration utilizes noticeandcomment rulemaking This process begins with a a request to Congress to enact enabling legislation b the solicitation of public comments as to whether a new rule is needed c the publication of a notice of proposed rulemaking d the filing of a complaint against a party alleged to have violated NHTSA policy
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