16. In the case of bankruptcy, the court filings may be started by: A. The debtor (the company that went bankrupt) or the creditor (the company owed money) B. The debtor only because the company must admit that it has exhausted its funding and ability to pay its bills. C. The creditor because this is always a lawsuit. D. The customers of the company without funding will initiate the bankruptcy because they are the market maker. 17. Understanding contract law is very important because lots of business is created through contracts. Which of the following is not a condition of a contract? A. Consideration is given by both parties. B. The acceptance of the offer by both parties is voluntary. C. A contract of $1,000 to $5,000 may be a verbal handshake. D. Both parties in the contract are competent. 18. A young boy, age 12 decided to trade his eBike. (Bagcity Electro mission bike) that he got for his birthday for a new Nintendo Switch Console with neon blue/red. The boy's parents paid over $1,000 for the bike, but they knew he would need to ride it to school on most days and they wanted something easy and safe. The Nintendo hardware would set them back about $300. Is this a legal contractual sale? A. It is a legal contractual sale because both parties voluntary entered into this sale and both gave consideration. B. The contract entered in this case is not legal and questions competence due to the age of the person trying to trade the eBike C. This is not legal because there is no evaluation of price of goods. D. This is totally legal because both parties made an offer. 19. Antitrust legislation is about: A. Companies within one industry that cannot be trusted because they continue to do illegal things. B. Making certain that at least one competing company within an industry has the lion's share of the market. . One competing company breaking up another competing company D. The government stepping in to promote fair competition. 20. Alfred was the victim of a tragic accident at an amusement park. While riding the roller coaster, part of the coaster jumped the track and Alfred and others were thrown to the ground. Although Alfred fortunately recovered, one could use the term to describe this unintentional harm or injury. A. negligence B. strict product liability C. strict warranty D. discharge of obligation