Business Contrast

On May 1, X writes Y a letter offering to pay Y $1000 if Y will promise to paint X's house. The offer says nothing about stipulated or authorized means of acceptance. On May 2, Y sends X a letter rejecting X's offer. On May 3, Y changes his mind and (saying nothing about his May 2 letter) telephones X to accept the offer. On M ...continues

Business Law

In general, when are offerees bound by "fine-print" terms stated in offers? Focus only on the rules regarding offers and do not consider unconscionability. a) Always. b) Only when they actually read the term. c) Only when they had actual or reasonable notice of the term. d) Never.

Business Law Problem

Which of the following actions constitute operations of economic concentration? (a)the merger of two or more unrelated actors covered by this law; (b)formation of a common corporation by two or more unrelated actors covered by this law, when the operation has as its result economic concentration and the resulting company acts as ...continues

Business Law Question/Problem

Total business volume is calculated by adding the value of the sales of products and provision of services by the companies involved during their last fiscal year. In this calculation, which of the following have special rules to consider? (a) fractional acquisitions (b)interlinked companies (c) companies with joint branches (d) ...continues

In general, when are offerees bound by 'fine-print' terms stated in offers?

In general, when are offerees bound by 'fine-print' terms stated in offers? Focus only on the rules regarding offers and do not consider unconsiability. a. Always b. Only when they actually read the term c. Only when they had actual or reasonable notice of the term d. Never The answer is not d.

Business Law

With regard to a completely integrated contract, parole evidence can be used to: a. Contradict the terms of the contract b. Explain ambiguities on the contract c. Supplement the terms of the contract d. Modify the terms of the contract

Business Law

A liquidated damages clause in a contract for any sale of goods will not be enforced when a. actual damages would be easy to prove in the event of a breach b. the amount specified is so large as to be a penalty c. the amount specified is so low as to be unconscionable d. all of the above

Which of the following is necessary for the attachment of a security interest?

Which of the following is necessary for the attachment of a security interest? a. the filing of a financing by another creditor b. the completion of a written security agreement signed by the debtor c. the creditor's giving of value to the debtor d. the creditor's having preexisting rights to the collateral.

The requirement that, to be negotiable, an instrument must promise or order payment of a fixed amount of money

The requirement that, to be negotiable, an instrument must promise or order payment of a fixed amount of money a. applies only to principal b. applies only to interest c. applies to both principal and interest together d. applies neither to principal nor interest

Business Law

The time period within which a customer must report unauthorized customer signatures to the bank to get his account redirected is: a. fourteen days b. six months c. one year d. three years The answer is not a.