1.An individual lending money at a 15% interest rate is an example of:

a. a lottery.

b. a valid contract.

c. a usurious loan.

d. all of the above.

2.Confidential information about formulas, patterns, programs, devices, and methods are considered:

a. fair game.

b. trade secrets.

c. common knowledge.

d. all of the above.

3.A regulatory license:

a. may require an examination, experience, and/or education.

b. is required for contractors, real estate brokers, architects and other professionals and tradesmen.

c. both a and b.

d. none of the above.

4.Exculpatory agreements are enforceable in recreational activities if the language is:

a. clear.

b. understandable.

c. conspicuous.

d. all of the above.

5.The employment of a real estate broker must be in a signed writing for the realtor to get a commission for a transaction involving:

a. purchasing real estate.

b. selling real estate.

c. leasing real estate for a period longer than one year.

d. all of the above.

6.A contract for the sale of goods is not enforceable without a signed writing if it is for:

a. $100 or more.

b. $200 or more.

c. $500 or more.

d. all of the above.

7.A defendant lets slip on the stand that he had an oral contract with plaintiff car dealer guaranteeing repayment of his nephew's car loan.The Statute of Frauds

arequires a writing to guarantee the debt of another

bhere is satisfied by the judicial admission

cboth a and b

dnone of the above

8.Fred verbally promised Sue a new Mercedes once they married.Sue cannot enforce the promise.

Group of answer choices

True

False

9.Oral contracts, not subject to the statute of frauds, are enforceable.

Group of answer choices

True

False

10.Full performance of an oral contract subject to the statute of frauds will not be rescinded for failure to comply with the formal requirement of a writing.

Group of answer choices

True

False