An intoxicated individual will enter in a void/voidable/valid contract A. Void B. Voidable C. Valid 2. Minors will enter into a void/voidable/valid contract. A. Void B. Viodable C. Valid
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1. An intoxicated individual will enter in a void/voidable/valid contract
A. Void
B. Voidable
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- It’s a contract whereby a person binds himself to render some service or to do something in representation or on behalf of another, with the consent or authority of the latter. a. Contract of agency b. Contract of barter or exchange c. Contract for a piece of work d. None of the aboveA negotiable instrument payable to the order of Dora, the rat killer is aA.) An order instrumentB.) Non-negotiable instrumentC.) Bearer instrumentD.) Void instrumentWhich of the following is NOT the correct statements regarding forward contracts? I. contain a commitment to the owner, and are standardized. II. contain a commitment to the owner, and can be tailored to the desire of the owner. III. contain a right but not a commitment to the owner, and can be tailored to the desire of the owner. IV. contain a right but not a commitment to the owner, and are standardized. A. I, III, IV B. II, IV C. I, II, III D. I, II
- Determine whether the statement is legally correct (true) or not (false). 1. Conditions, interest, penalty, time or place of payment are examples of natural elements in a contract of sale. 2. Where necessaries are those sold and delivered to a minor or other person without capacity to act, he must pay a reasonable price therefor.Determine whether the statement is legally correct (true) or not (false). 1. An offer is subject to the complete will of the offeror and may be withdrawn or destroyed prior to its acceptance. 2. Actual delivery and payment is needed to establish existence of valid contract of sale.1. A contract of adhesion is a: A. take or leave it contract. B. charging above the maximum interest rate allowed. C. equally at fault. 2. A judicially decreed incompetent will enter into a void/voidable/valid contract. A. Void B. Voidable C. Valid 3. A sales contract has an implied condition precedent/condition concurrent/condition subsequent. A. condition precedent B. condition concurrent C. condition subsequent
- te of insurand O D. policy form 21. What is the form that filled out by insured if a loss is suffered? * O A. Loss form B. Completion notes C. Endorsement D. Claim form 22. is the application document used for making the proposal.The contract of sale is a consensual contract. a. True b. FalseT/F 1.Sale is a mode that gives rise to a title 2. Nominate which means that it has been given a particular name by law. A certain set of provisions will be applicable In trying to construe issues related to the contract.
- the effect of the doctrine of privity of contract is that a. a person who is not a party to a contract cannot obtain benefits or rights under it b. a unilateral contract is unenforceable against parties who have privity c. parties to a contract are protectred by the law d. a person can obtain rights under a contract for which he or she is not a partyS1: Negotiorium gestio refers to the voluntary administration of the property, business, or affairs of another with his consent or authority. S2: Solutio indebiti refers to payment by mistake of an obligation which was due and demandable. a. Only S2 is true b. Both statements are true c. Only S1 is true d. Both statements are falseIn a "mixed contract," one involving both the dale of goods and services, does the UCC apply or does common law apply? How does a court determine which law to apply? Explain your answer.