A. Which law prevents creditors from directly calling the debtor's employer?:

A) Equal Credit Opportunity Act.

B) Fair Credit Billing Act.

C) Fair Credit Reporting Act.

D) Fair Debt Collection Practices Act.

E) Truth in Lending Act.

B. After common law is revised and adopted by executive agencies legislature enacts what is known as:

A) administrative law.

B) commercial law.

C) federal law.

D) statutory law.

E) constitutional law.

C. Laws that govern disputes, provide remedies, and protect private property and other rights of individuals are called...:

A) administrative laws.

B) commercial laws.

C) criminal laws.

D) civil laws.

E) procedural laws.

D. A Federal Communications Commission (FCC) regulation restricting cigarette advertising on television is an example of:

A) administrative law.

B) commercial law.

C) criminal law.

D) statutory law.

E) constitutional law.

E. A law that sets a deadline to respond to a civil complaint is an example of:

A) substantive law

B) procedural law.

C) commercial law.

D) constitutional law.

E) consumer protection law.

F. For a contract to be valid, four essential elements are required. All of the following necessary EXCEPT::

A) offer and acceptance.

B) written format.

C) competent parties.

D) consideration.

E) legal.

G. To create a legally binding contract, both parties are required to be this in order to enter into a contractual agreement.:

A) currently employed.

B) financially responsible

C) able to read and write.

D) citizens or legal foreign visitors.

E) competent.

H. The Johnson Furniture Company advertised a 60- x 30-inch executive desk for $359.00 in its Office Supplies catalog. A customer entered the store and told the salesperson that she wanted to buy one of the advertised desks. This action by the customer was a(n):

A) unilateral contract.

B) bilateral contract.

C) acceptance.

D) purchase.

E) agreement.

I. If a contract is required to be in writing under the statute of frauds, modifications to that contract:

A) are not binding.

B) can be made orally.

C) must be in writing.

D) require additional consideration.

E) are not allowed.

J. A change made in the terms of an executory contract by one party without the knowledge and consent of the other party is called a(n)...:

A) alteration.

B) novation.

C) substitution.

D) accord.

E) bilateral.