1 ) Which ONE of the following usually not considered to be an offer?

• Goods sold online.
• Goods in a store brochure.
• Goods sold through a vending machine
• Goods placed in a store

2) Which one of the fotiowing staternents is true?

• The owner of a patent cannot license it but can prevent others using his invention
• Copyright must be registered in order to gain protection.
• A patern must not be registered in order to gain protection
• The owner of patent can license it and can prevent others using his invention

3) if "XYZ' a Legal Entity formed between X, Y and Z, When would Z's personal assets be protected from Liability?

• None of the above.
• if XYZ is not an LLC
• if XYZ is a General Partnership and Z is a Limited Partner.
• if "XYZ" is a Limited Partnership and both X & Y are Limed Partners.

4) What is the principal effect of a counter offer?

• A counter-offer creates a binding contract based on the terms of the counter-offer.
• A counter-offer creates a binding contract based on the terms of the original offer only if the terms of the counter-offer is more beneficial to the initial party making the offer
• A counter-offer destroys the original offer and replace it with a new offer
• A counter-offer creates a new offer, but the original offer is still capable of being accepted.

5) if an agreement contains an arbitration clause, then:

• The parties can only go to court after they have been to arbitration
• Either of the parties can choose to go to court
• if both parties agree, they can choose to go to court
• The parties can never go to court