BUSI 2001 FINAL EXAM
WEEK 6 WITH ANSWERS1. Except as provided by statute, oral contracts are just as enforceable as written
contracts. (Points: 5)
True
False
2. Full performance is the most common method by which contracts are discharged.
(Points: 5)
True
False
3. One of the element...
busi 2001 final exam week 6 with answers 1 week 6 negotiable instruments and government regulation final exam help time remaining 1 except as provided by statute
oral contracts are just as enf
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BUSI 2001 FINAL EXAM
WEEK 6 WITH ANSWERS
Week 6: Negotiable Instruments and Government Regulation - Final Exam Help
Time Remaining:
1. Except as provided by statute, oral contracts are just as enforceable as written
contracts. (Points: 5)
True
False
2. Full performance is the most common method by which contracts are discharged.
(Points: 5)
True
False
3. One of the elements necessary to establish fraud is a false statement or concealment of
a material fact. (Points: 5)
True
False
4. The UCC requires all parties entering a sales contract to perform their obligations in
good faith. (Points: 5)
True
False
5. The term goods includes intangible personal property such as shares of stock. (Points:
5)
True
False
6. A check is an instrument that is payable on demand. (Points: 5)
, 2
BUSI 2001 FINAL EXAM
WEEK 6 WITH ANSWERS
True
False
7. Gambling is a legal form of playing for stakes, such as in a lottery. (Points: 5)
True
False
8. The parol evidence rule states that terms of a written contract can be changed by prior
oral or written agreements. (Points: 5)
True
False
9. If the subject matter essential to the performance of the contract is destroyed through
no fault of either party, the contract is considered discharged. (Points: 5)
True
False
10. When money damages do not adequately and fairly compensate for a loss, the injured
party can sue for specific performance or request a court to issue an injunction. (Points:
5)
True
False
11. In seeking damages, the victim of a breach of contract has a duty to (Points: 5)
Increase the amount of the damages
Mitigate the damages
Liquidate the damages
Rescind the contract
12. Jones sued Smith for breach of contract. The court awarded Jones damages of $1.
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