RPTM 390 exam 3 Question and answers rated A+ RPTM 390 exam 3
Which of the following is not a source of contract law? - correct answer statutory law
This type of contract refers to an exchange of promises between parties. - correct answer bilateral contract
Which of the following cont...
RPTM 390 exam 3
Which of the following is not a source of contract law? - correct answer
✔statutory law
This type of contract refers to an exchange of promises between parties. -
correct answer ✔bilateral contract
Which of the following contracts are NOT required to be in writing in order to
become legal. - correct answer ✔sale of goods under $100
Technically, oral contracts are legal contracts - correct answer ✔true
Acceptance must be made in this form, and is based on one's written or verbal
conduct - correct answer ✔positive
This amount of money, according to promissory estoppel, is the lowest
amount needed for consideration to be valid. - correct answer ✔1
Consideration must be legally sufficient, but does not need to be equal. -
correct answer ✔true
Minors under the age of 18 DO NOT have the ability to void a contact with an
adult. - correct answer ✔false
—Gratuitous promises are not legally binding unless the promisee relies upon
the terms - correct answer ✔true
, Contract disputes are typically settled using a mediator, and not in the court
system. - correct answer ✔true
This type of damage was created to place the aggrieved party in the same
economic position as if the contract had been performed. - correct answer
✔monetary damages
This type of damage is specifically written into a contract, in the event a
breach occurs. - correct answer ✔liquidated damages
Antitrust laws are also referred to as these types of laws. - correct answer
✔competition laws
This type of market deals with salaries of jobs, employment, and an economic
exchange in which workers seek jobs and employers seek workers. - correct
answer ✔labor market
Which of the following is not one of the four principles of monopolistic
behaviors. - correct answer ✔multiple company contracts
Major League Baseball is exempt from Anti-Trust Law. - correct answer
✔true
In this type of strike, union employees do not work because of their issues and
problems with management. - correct answer ✔unfair labor practices
Legally, an election phase can more forward if at least 30% of the
authorization cards are returned. However, it will not move forward unless this
percentage of cards are returned. - correct answer ✔50%
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
