1.A crime is an offense against the public at large.

true

false

2.Crimes are classified into three groups according to the seriousness of the offense. They are ______.

treason, felony and misdemeanor

bilateral, unilateral and personal

offer, acceptance and consideration

formal, informal and hybrid

3.The various forms of theft, robbery, hijacking, embezzlement, and shoplifting are types of:

murder.

assault.

plundering.

larceny.

4.Vicarious negligence is the charging of a negligent act of one person onto another.

true

false

5.The law of torts deals with violations of rights to:

a contract.

an identifiable individual or business.

a divorcing party.

a trademark infringement.

6.Defamation is a broad term that includes both:

libel and slander.

libel and conversion.

nuisance and libel.

grand and petty larceny.

7.A promise to give up something of value that a person has a legal right to keep or to agree to do something that a person is not legally required to do is known as equity.

true

false

8.The Uniform Commercial Code (UCC) 1-201(12) defines what?

A contract.

A CEO.

Articles of incorporation.

Unjust enrichment.

9.To be legally enforceable, a contract must contain the six elements. If one of these elements is missing, the court will usually:

enforce the contract.

refer the matter to the superior courts.

refuse to enforce the contract.

validate the contract.

10.An offer is terminated as a result of the death or legal incapacity of either the offeror or the offeree.

true

false

11.A valid offer must be all of the following EXCEPT:

definite and certain.

stated in writing.

made with serious intent.

communicated to the offeree.

12.Offers are terminated for the following reason(s):

lapse of time.

revocation.

rejection.

all of the options are correct.

13.In the eyes of the law, a contractual mistake is a belief that is not in accord with the facts.

true

false

14.A mere expression of a salesperson's opinion is called _____________.

puffing

homicide

libel

fraudulent statement

15.For a contract to be dissolved because of a mistake, the law usually requires that the mistake be:

mutual.

unilateral.

intentional.

a belief about what might happen in the future.

16.A valid contract does not exist if the consideration is a promise to perform an illegal act, or to avoid performing an act that is legally required to be performed.

true

false

17.The promises exchanged by the parties to a contract, either to give up something of value they have a legal right to keep, such as money or property; to do something they are not otherwise legally required to do, such as performing a service; or to refrain from an action is known as:

consideration.

offer and acceptance.

mutual agreement.

competence of parties.

18.The three essential characteristics of valid consideration are:

accuracy, brevity, and clarity.

fulfillment of social, moral and ethical obligations.

legality, adequacy, and the possibility of performance.

intention, practices, and policies.