Bul 3310 exam - Study guides, Class notes & Summaries

BUL 3310 EXAM 2 QUESTIONS WITH REVISED ANSWERS Under the Code, parties may agree to modify the terms of an existing contract without providing new consideration. True False - Answer-True Todd bought a lawn tractor from LawnToysRus. The law that governs this sales contract is The Uniform Commercial Code The Convention on the International Sale of Goods State common law Federal common law - Answer-The Uniform Commercial Code An offeree is The person who makes an offer to form ...

BUL 3310 EXAM 3 QUESTIONS WITH VERIFIED ANSWERS To download software for his Internet connection, Nelson had to click on several boxes at the Web site that stated "I agree" or "I accept." Nelson did not read the accompanying text before clicking on the boxes. In the event of a dispute between Nelson and the service provider, the contract terms will: a. become proposals for the terms of a binding contract. b. be considered the terms of a binding contract. c. be enforced only i...

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BUL 3310 EXAM 2 QUESTIONS WITH ALL CORRECT ANSWERS A legal waiver and a legal renunciation - Answer-A legal benefit and a legal detriment Legal detriments always entail economic losses T/F - Answer-False Which of the following statements about nominal consideration is correct? a. Giving your siblings a quitclaim deed for your 1/8 share in your family home for $1 is an example of nominal consideration. b. Nominal consideration will support an enforceable contract. c. Nominal conside...

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Absent an agreement otherwise, each partner is entitled to compensation for his or her services in managing the business T/F - ️️False A buy and sell agreement normally specifies the terms under which a withdrawing or deceased partner's interest will be bought out T/F - ️️True Subchapter S corporation will avoid double taxation if which of the following applies? A. All the shareholders agree to be taxed as in a partnership B. The corporation files Articles of Partnership in th...

Dr. Dan accidentally left a scalpel in Paul Patient during Paul's operation, causing Paul much pain and necessitating additional surgery. Paul's lawyer will most likely use the special doctrine of ____________when he sues Dr. Dan for negligence. Negligence per se Res ipsa loquitur Superseding cause Contributory negligence - ️️Res ipsa loquitur What is the primary purpose of tort law? Punish wrongdoers Compensate victims for their losses Support society by fining wrongdoers C...