1.

Written contracts are usually preferable to oral contracts because:

a. they provide proof of the parties' agreement in the event of a dispute

b. they provide the parties with a record of their rights and obligations

c. both A, B

d. neither A or B

2.

A disclaimer clause in an agreement

a. excuses a party from their contractual obligations under certain circumtances

b. directly affect the scop of the coverage or services that are the subject of the agreement

c. requires 1 of the parties to pay for any losses that the party may incur as a result of claims related to the contract

d. limits the amount of damages that parties are requires to pay for a breach

3.

A counteroffer revokes an offer only when this is a specificed term of the counteroffer

True False

4.

You can successfully revoke an offer at any time, even after it has been accecpted

True False

5.

The parol evidence rule states that if a contract is in writing and the language of the contract is clear, a court will not look beyond the contract itself to interpret, alter, or contradict its terms.

True False

6.

All of the ordinary rules of contract law apply, except where they are modified by the Sale of Goods Act

True False

7.

Promissory estoppel is the principle that a one-sided promise is not a biding contract.

True False

8.

The Ontario Consumer Protection Act, 2002 governs all consumer transaction, but specifically excludes

a. barter transactions

b. purchases, sales, or leases of most real property

c. internet agreements

d. all of the above

9.

It is importance for all business people to know about contract law because

a. contract law governs disputes

b. contracts can clarity your business dealings

c. contracts can help you avoid surprises

d. all of the above

10.

You cannot accept an offer you don't know about True False Moving to the next question prevents changes to this answer.Which of the following is not a necessary element in forming a contract? O A Capacity O B. Legality O c. Consideration O D. Consensus OE Fairness Moving to the next question prevents changes to this answer.Which of the following is not an essential element of a contract? A presumption OB consideration O c legality OD offer and acceptance Moving to the next question prevents changes to this answer.According to the federal act PIPEDA and Ontario's Electronic Commerce Act, A electronic documents and signature are the equivalent of written contracts signed by hand B. any contract that can be entered into in writing on paper can be entered into electronically celectronic documents and signature equivalents that are protected by password or encryption are recognized O D. All of the above Moving to the next question prevents changes to this answer. Type here to search O 9If a party relied on a false statement of fact in entering an agreement, and that misrepresentation was negligent, the deceived party may be entitled to A rescission of the contract and monetary damages. B only rescission of the contract O c. only monetary damages. D. neither rescission of the contract, nor monetary damages Moving to the next question prevents changes to this answer Type here to search OThe Ontario Sale of Goods Act applies to A good that represent monetary worth. O B. services. O c tangible personal property. OD. all of the above. Moving to the next question proveFrustration of a contract occurs when A a significant and unanticipated event that is beyond the control of the parties and prevents them from carrying out the terms of the contract B performance of a party's obligations becomes too onerous or expensive c performance of a contract according to its original terms becomes impossible or radically different from what the parties intended. O'D parties fail to express their contractual intentions within the written terms of their agreement. A Moving to the next question prevents changes to this answerIn Ontario the Sale of Goods Act is the principle statute that governs commercial sales transactions True O False Moving to the next question prevents changes to this answer. Type here to search O 91 points To emphasize its concern for clarity, the Ontano Consumer Protection Ack. 2002 codities the common law rule that any ambiguous contractual information or provisions drafted by the business are to be interpreted A In a non-based way for all parties B to the benefit of the consumer Oo to the benefit of the business Op in favour of the drafter of the agreement Moving to the next question prevents changes to this answer Question 20 of 26 Type here to search O g ENG 9:50 AM 2020 07-02The Ontario Consumer Protection Act, 2002 applies to the A. business-consumer relationship. O B. business-business relationship O c. consumer-consumer relationship O D. all of the abovePersonal information protected under PIPEDA includes a business person's O A business address. OB. business telephone number. O c. personal email address. OD name. A Moving to the next question prevents changes to this answerCategories of "restricted" products that must be labelled in a specific manner or meet certain standards to be legally sold in Canada are provided in which Act? A. Consumer Packaging and Labelling Act O B. Canada Consumer Product Safety Act O c. Hazardous Products Act. OD Food and Drugs Act Moving to the next question prevents changes to this answerTo which of the following does the Ontario Sale of Goods Act apply? A. the sale of a car OB the rental of an apartment O c the sale of a house D the rental of a motel room Moving to the next question prevents changes to this answer.ou have a contract to supply Australian emu skins. If you can no longer import emu skin because of a new federal law, you could claim frustration and be excused from performing the contract. True False Moving to the next question prevents changes to this answer Question 6 0 Type here to search 9 W ENGA business's contractual obligations are fulfilled by people who the business employs or retains. The principle is referred to as O A limitation of liability. O B. indemnity c. vicarious performance O D. specific performance Moving to the next question prevents changes to this answer Type here to search O 9