Bookmark question for later Callie wants to work for an insurance firm Before she is hired, the firm wants her to sign a non compete agreement that she will not work for any other insurance firm in the state or any surrounding state for the next ten years Which of the following is most likely true This agreement is legal as long as Callie can find a job at least one year after she quits This agreement is legal and enforceable This agreement is probably too excessive to be enforceable This agreement is illegal and punishable under usury laws Bookmark question for later Stetzon, a merchant, makes an unconscionably unfair deal with another merchant, Cheri Cheri wants to pursue a remedy when she discovers her disadvantage in the contract What recourse does Cheri have under UCC Cheri may rewrite the contract, to which Stetzon must comply As a merchant, Cheri has no recourse Cheri may have a court alter the contract Cheri may wholly void the contract Bookmark question for later Which of the following contracts are not required to be in writing A contract for labor intended to finish before one year A contract to sell real estate, with $800 per month payments A contract to lease property with a guaranty contract A contract between Glinda and her mother for her to not marry her boyfriend Harry Bookmark question for later What are punitive damages Damages awarded when non breaching party sues a breaching party Damages awarded to return a non breaching party to its former position Damages awarded to punish gross breaches of contract Damages awarded to cover a foreseeable loss Bookmark question for later What are compensatory damages Damages awarded to punish gross breaches of contract Damages awarded to return a non breaching party to its former position Damages awarded when non breaching party sues a breaching party Damages awarded to cover a foreseeable loss Bookmark question for later Claire and Donny want to use a contract to enforce a business deal Which of the following would most solidly enforce to terms of their agreement An informal, express contract An informal, implied contract A formal, express contract A formal, implied contract Bookmark question for later Which of the following would most likely qualify as substantial performance Leroy doesn't finish his last 3 days of yard work under contract because his mother has a medical emergency Vivian is under contract to paint 10 paintings, but only finished 8 because she is offered a more lucrative contract from someone else Lily contracts to paint house green, but decides to paint it blue instead Out of spite, Wally stops performing work 10 days before his contract is finished Bookmark question for later Which of the following would qualify as valid consideration Candice gives out free samples in order to get more people to buy her ice cream George contracts with his mother that she will leave the good family silver to him when she passes away because he was the most helpful son Carlie contracts with her landlord to pay for rent by landscaping the property and cleaning and painting empty apartments Stu makes Lewis promise to give all his extra lunch money to Stu every day after school Bookmark question for later What is the definition of undue influence A unilateral of bilateral misunderstanding of value or fact Domination of another person so thoroughly as to remove free will Pressure exerted on a person to force him or her to perform under serious threat An intentional misrepresentation of material fact Bookmark question for later What is the definition of fraud Pressure exerted on a person to force him or her to perform under serious threat An intentional misrepresentation of material fact Domination of another person so thoroughly as to remove free will A unilateral of bilateral misunderstanding of value or fact Bookmark question for later What is thecorrect definition of delegator A person transferring contract duties A person making a contract assignment A person accepting contract duties A person accepting contract rights Bookmark question for later What is thecorrect definition of assignee A person accepting contract rights A person accepting contract duties A person transferring contract duties A person making a contract assignment Bookmark question for later What is the correctdefinition of offeror Offeree's refusal Offeror's withdrawal Person who receives an offer Person who sets the terms of an offer Bookmark question for later Colby is 17 and signs a contract to buy a car He turns 18 and immediately defaults on his car loan Which of the following is true Colby is not obligated to pay the loan only if he is emancipated from his parents Colby is not obligated to pay the loan Colby is obligated to pay only if he affirmed the contract by making a payment after he turned 18 Colby is obligated to his contract and must pay the loan Bookmark question for later Lou picks up a desktop mouse he finds lying on a desk at school The next day Travis recognizes the mouse as the one he left behind the day before but tells Lou he might as well have it The mouse is Mislaid property Abandoned property A gift None of the above Bookmark question for later Rose buys a camp trailer and stores it in a storage facility in town until a time when she wants to go camping Rose has over the camp trailer, which is property Actual possession tangible Constructive possession intangible Actual possession intangible Constructive possession tangible Bookmark question for later Which of the following is a definition of novelty How an invention works An invention's characteristic of advancing ideas or stepping forward Usefulness of an invention Newness of an invention Bookmark question for later Which of the following would most likely be considered fair use Playing an actor's short film in school and doing a speech review of the work Playing a newly released movie at a free drive in movie Replicating the choreography of a famous dancer for use in your own stage production Selling copies of music CDs that you burned yourself Bookmark question for later Perry started a new company called Thixxix, along with a distinctive trademark mark meant to identify the company Perry doesn't bother to register the trademark The year following the creation of his company, Perry sees a trademark logo for another company that looks just like the mark for Thixxix Which of the following is true More than one response is correct Perry has no trademark protection, since he did not register the trademark Perry would have had constructive trademark protection if he had registered his trademark for Thixxix Perry has trademark protection, since his mark is in use and is distinctive Bookmark question for later Torey broke into a competitor's office to steal a trade secret She is eventually caught If she has gained from the use of the trade secret, which of the following is true Torey must give the profits she has made to the competitor More than one response is correct Torey will pay her competitor for lost profits Torey must stop using the trade secret for her benefit Bookmark question for later BooneTech has a superior instrumentation system for doing work in its factory It regularly offers tours so people can come and observe the special equipment When a competitor begins to use similar equipment, BooneTech sues the competitor for utilizing a trade secret Which of the following is true BooneTech can sue the competitor for any lost profits The competitor may not use BooneTech's system BooneTech cannot stop the competitor from using the system because it did not reasonably hide its trade secret As long as the system isn't exactly the same down to the last detail, there isn't enough proof to establish the competitor as using BooneTech's system Bookmark question for later Which of the following is the correct definition of utility Newness of an invention An invention's characteristic of advancing ideas or stepping forward Usefulness of an invention How an invention works Bookmark question for later Which of the following is the correct definition of non obviousness Any process, machine, manufacture, or composition of matter An invention's characteristic of advancing ideas or stepping forward Newness of an invention Usefulness of an invention Bookmark question for later Jerry wants to rent out living space to a tenant He wants the benefit of steady rent payments and the ease of evicting the tenant when he feels it would be convenient Jerry also wants to formalize the tenancy with a rental agreement so that his rights and privileges are explicitly accounted for and agreed to in writing Which form of tenancy should Jerry use in renting out his space Tenancy at sufferance Periodic tenancy More than one option is correct Tenancy at will Bookmark question for later A may have an infinite duration Tenancy at sufferance Periodic tenancy More than one option is correct Tenancy at will

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Bookmark question for later Callie wants to work for an insurance firm. Before she is hired, the firm wants her to sign a non-compete agreement

Bookmark question for later

Callie wants to work for an insurance firm. Before she is hired, the firm wants her to sign a non-compete agreement that she will not work for any other insurance firm in the state or any surrounding state for the next ten years. Which of the following is most likely true?

This agreement is legal as long as Callie can find a job at least one year after she quits.
This agreement is legal and enforceable.
This agreement is probably too excessive to be enforceable.
This agreement is illegal and punishable under usury laws.

Bookmark question for later

Stetzon, a merchant, makes an unconscionably unfair deal with another merchant, Cheri. Cheri wants to pursue a remedy when she discovers her disadvantage in the contract. What recourse does Cheri have under UCC?

Cheri may rewrite the contract, to which Stetzon must comply.
As a merchant, Cheri has no recourse.
Cheri may have a court alter the contract.
Cheri may wholly void the contract.

Bookmark question for later

Which of the following contracts are not required to be in writing?

A contract for labor intended to finish before one year
A contract to sell real estate, with $800 per month payments
A contract to lease property with a guaranty contract
A contract between Glinda and her mother for her to not marry her boyfriend Harry.

Bookmark question for later

What are punitive damages?

Damages awarded when non-breaching party sues a breaching party
Damages awarded to return a non-breaching party to its former position
Damages awarded to punish gross breaches of contract
Damages awarded to cover a foreseeable loss

Bookmark question for later

What are compensatory damages?

Damages awarded to punish gross breaches of contract
Damages awarded to return a non-breaching party to its former position
Damages awarded when non-breaching party sues a breaching party
Damages awarded to cover a foreseeable loss

Bookmark question for later

Claire and Donny want to use a contract to enforce a business deal. Which of the following would most solidly enforce to terms of their agreement?

An informal, express contract
An informal, implied contract
A formal, express contract
A formal, implied contract

Bookmark question for later

Which of the following would most likely qualify as substantial performance?

Leroy doesn't finish his last 3 days of yard work under contract because his mother has a medical emergency.
Vivian is under contract to paint 10 paintings, but only finished 8 because she is offered a more lucrative contract from someone else.
Lily contracts to paint house green, but decides to paint it blue instead.
Out of spite, Wally stops performing work 10 days before his contract is finished.

Bookmark question for later

Which of the following would qualify as valid consideration?

Candice gives out free samples in order to get more people to buy her ice cream.
George contracts with his mother that she will leave the good family silver to him when she passes away because he was the most helpful son.
Carlie contracts with her landlord to pay for rent by landscaping the property and cleaning and painting empty apartments.
Stu makes Lewis promise to give all his extra lunch money to Stu every day after school.

Bookmark question for later

What is the definition ofundue influence?

A unilateral of bilateral misunderstanding of value or fact
Domination of another person so thoroughly as to remove free will
Pressure exerted on a person to force him or her to perform under serious threat
An intentional misrepresentation of material fact

Bookmark question for later

What is the definition offraud?

Pressure exerted on a person to force him or her to perform under serious threat
An intentional misrepresentation of material fact
Domination of another person so thoroughly as to remove free will
A unilateral of bilateral misunderstanding of value or fact

Bookmark question for later

What is thecorrect definition ofdelegator?

A person transferring contract duties
A person making a contract assignment
A person accepting contract duties
A person accepting contract rights

Bookmark question for later

What is thecorrect definition ofassignee?

A person accepting contract rights
A person accepting contract duties
A person transferring contract duties
A person making a contract assignment

Bookmark question for later

What is the correctdefinition ofofferor?

Offeree's refusal
Offeror's withdrawal
Person who receives an offer
Person who sets the terms of an offer

Bookmark question for later

Colby is 17 and signs a contract to buy a car. He turns 18 and immediately defaults on his car loan. Which of the following is true?

Colby is not obligated to pay the loan only if he is emancipated from his parents.
Colby is not obligated to pay the loan.
Colby is obligated to pay only if he affirmed the contract by making a payment after he turned 18.
Colby is obligated to his contract and must pay the loan.

Bookmark question for later

Lou picks up a desktop mouse he finds lying on a desk at school. The next day Travis recognizes the mouse as the one he left behind the day before but tells Lou he "might as well have it." The mouse is:

Mislaid property
Abandoned property
A gift
None of the above

Bookmark question for later

Rose buys a camp trailer and stores it in a storage facility in town until a time when she wants to go camping. Rose has __________ over the camp trailer, which is __________ property.

Actual possession; tangible
Constructive possession; intangible
Actual possession; intangible
Constructive possession; tangible

Bookmark question for later

Which of the following is a definition ofnovelty?

How an invention works
An invention's characteristic of advancing ideas or stepping forward
Usefulness of an invention
Newness of an invention

Bookmark question for later

Which of the following would most likely be considered fair use?

Playing an actor's short film in school and doing a speech review of the work.
Playing a newly-released movie at a free drive-in movie
Replicating the choreography of a famous dancer for use in your own stage production
Selling copies of music CDs that you burned yourself.

Bookmark question for later

Perry started a new company called Thixxix, along with a distinctive trademark mark meant to identify the company. Perry doesn't bother to register the trademark. The year following the creation of his company, Perry sees a trademark logo for another company that looks just like the mark for Thixxix. Which of the following is true?

More than one response is correct.
Perry has no trademark protection, since he did not register the trademark.
Perry would have had constructive trademark protection if he had registered his trademark for Thixxix.
Perry has trademark protection, since his mark is in use and is distinctive.

Bookmark question for later

Torey broke into a competitor's office to steal a trade secret. She is eventually caught. If she has gained from the use of the trade secret, which of the following is true?

Torey must give the profits she has made to the competitor.
More than one response is correct.
Torey will pay her competitor for lost profits.
Torey must stop using the trade secret for her benefit.

Bookmark question for later

BooneTech has a superior instrumentation system for doing work in its factory. It regularly offers tours so people can come and observe the special equipment. When a competitor begins to use similar equipment, BooneTech sues the competitor for utilizing a trade secret. Which of the following is true?

BooneTech can sue the competitor for any lost profits.
The competitor may not use BooneTech's system.
BooneTech cannot stop the competitor from using the system because it did not reasonably hide its trade secret.
As long as the system isn't exactly the same down to the last detail, there isn't enough proof to establish the competitor as using BooneTech's system.

Bookmark question for later

Which of the following is the correct definition ofutility?

Newness of an invention
An invention's characteristic of advancing ideas or stepping forward
Usefulness of an invention
How an invention works

Bookmark question for later

Which of the following is the correct definition ofnon-obviousness?

Any process, machine, manufacture, or composition of matter
An invention's characteristic of advancing ideas or stepping forward
Newness of an invention
Usefulness of an invention

Bookmark question for later

Jerry wants to rent out living space to a tenant. He wants the benefit of steady rent payments and the ease of evicting the tenant when he feels it would be convenient. Jerry also wants to formalize the tenancy with a rental agreement so that his rights and privileges are explicitly accounted for and agreed to in writing. Which form of tenancy should Jerry use in renting out his space?