CLASS / COURSE: Business Law

QUESTION DESCRIPTION:

1. Odell owns Payroll Company, a bookkeeping service losing market share to Quik Work, Inc. Odell pays Remy $5,000 to steal a list of Quik’s clients, to whom Odell will aggressively market Payroll‘s services. This deal is (Points: 2)
enforceable
void
voidable at the option of either party
voidable at the option of the party having less bargaining power


2. Ralph signs a covenant not to compete with his employer, Super Sales Company. A court decides that the covenant is overly restrictive. The court will most likely (Points: 2)
enforce it so as not to interfere with the partiesÂ’ freedom to contract.
enforce it but evaluate its effects over time.
reform its terms to prevent any undue burdens.
refuse to enforce it unless Super pays additional consideration.


3. Neil represents himself as a contractor in Ohio, but he is not licensed in that state. A contract between Pam and Neil by which Neil agrees to build a warehouse for Pam in Ohio is (Points: 2)
enforceable only if Pam does not object after learning of NeilÂ’s status.
enforceable only if Pam knows that Neil is unlicensed.
enforceable only if the outcome is successful.
not enforceable.


4. Joy signs a contract with Kent, an unlicensed physician, to perform a medical procedure. This contract is enforceable by (Points: 2)
Joy only
Joy or Kent
Kent only
no one


5. Fay is mentally incompetent but has not been so adjudged by a court. Any contract Fay enters into is (Points: 2)
voidable if Fay has a lucid interval at the time of contracting.
voidable if Fay lacks the capacity to comprehend the consequences.
voidable if the other party does not realize that Fay is incompetent.
unavoidable.


6. Intoxicated but fully aware of the consequences, Uri agrees to a two-year cell-phone service contract with Wander Talk, Inc., at more than the average market price. This contract is (Points: 2)
enforceable.
not enforceable because contracting parties can change their minds.
not enforceable because the contract clearly favors Wander Talk.
not enforceable because Uri was intoxicated when he agreed to it.


7. On TadÂ’s eighteenth birthday, he decides that he no longer wants to keep a car he bought from U-Pick Autos, Inc., when he was seventeen. His right to disaffirm the deal will depend on (Points: 2)
the carÂ’s condition when Tad bought it.
the carÂ’s current condition.
whether Tad acts within a reasonable period of time.
whether U-Pick has the right to disaffirm.


8. Nora signs a contract to buy a car just before reaching the age of major­ity. After reaching the age of majority, Nora does not take possession or make payments. Most courts would hold that she had (Points: 2)
disaffirmed the contract.
executed the contract.
ratified the contract.
rescinded the contract.


9. Delia enters into, and fails to disaffirm soon after reaching the age of ma­jority, a contract with Electronics Stores, Inc. (ESI). Later Delia attempts to disaffirm the contract. ESI files a suit against her. The court will most likely consider the contract ratified if it is (Points: 2)
executory.
executed.
executed or executory.
neither executed nor executory.


10. Max, a minor subject to his parentsÂ’ care and control, signs a contract to rent an apartment from Noel for one year. Before the end of the term, Max moves out. Noel sues for the rent for the rest of the term. Max can (Points: 2)
avoid liability for the rent but not disaffirm the contract
disaffirm the contract and avoid liability for the rent
disaffirm the contract but not avoid liability for the rent
not disaffirm the contract nor avoid liability for the rent


11. Ruth, a minor, charges groceries at SamÂ’s Mini-Mart. Two days later, Ruth disaffirms the purchase. Ruth owes SamÂ’s (Points: 2)
the reasonable value of the groceries
the retail value of the groceries
the wholesale value of the groceries
nothing


12. Cray returns a digital music player that he bought from Discount City, which re­funds the price. Their exchange involves (Points: 2)
an emancipation
a ratification
restitution
severability


13. Chris, a minor, signs a contract to buy alcoholic beverages for Dine & Drink, his parentsÂ’ restaurant. The contract is (Points: 2)
valid but may be disaffirmed
valid but may not be disaffirmed
void as a matter of law
void unless it is also signed by Ed, the manager of Dine & Drink


14. Ken relinquishes the right to his son LeeÂ’s control, care, custody, and earnings. This act is (Points: 2)
a disaffirmance
an emancipation
a ratification
restitution


15. Don enters into a contract with Edie, who does not have contractual ca­pacity. The law will permit Don to enforce the contract only if Edie (Points: 2)
elects not to avoid the contract.
is a minor.
is a minor, intoxicated, or mentally incompetent.
is intoxicated or men­tally incompetent.

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SUBJECTS / CATEGORIES:
1. Business Law/Corporate Law