A. An "anticipatory breach" of a contract can occur when:

A) both parties agree, ahead of time, in writing to end the contract.

B) one party states, ahead of time, they cannot perform as agreed.

C) one party is unable to finish a contract before the agreed deadline.

D) the final contract payment is not made as agreed.

E) both parties orally agree ahead of time on mutual rescission.

B. When two or more individuals agree to establish a business for profit it is called:

A) a sole proprietorship.

B) a partnership.

C) a limited liability corporation.

D) a corporation.

E) franchise.

C. A construction company's office trailer which gets moved from job site to job site is an example of :

A) real property.

B) bailment.

C) intangible personal property.

D) personal property.

E) fixture.

D. A business entity created under state law authority and owned by shareholders rather than individuals who own and operate it.:

A) a sole proprietorship.

B) a partnership.

C) a limited liability corporation.

D) a corporation.

E) franchise.

E. Intellectual property is an example of :

A) real property.

B) bailment.

C) intangible personal property.

D) personal property.

E) fixture.