only ans need

QUESTION 21

1. An act of concealment, because it does not involve an affirmative misrepresentation, will not be sufficient to give rise to an action for fraud.

True

False

QUESTION 22

1. One of the following is not an element of a contract:

	A.	offer
	B.	acceptance
	C.	consideration
	D.	a written memorandum

QUESTION 23

1. The doctrine of unconscionability rests on the ethical assumption that one party to a contract should not take undue advantage of the other party.

True

False

QUESTION 24

1. Toni Minor purchased an automobile from Majority Motors on September 17. She attained the age of majority of October 5. In the early morning of October 6, she was involved in an accident that destroyed the vehicle, which was not insured. On November 1, she informed Majority Motors that she would make no further Payments. In the majority of states, if Majority Motors sues, it would

	A.	Lose even if defendant had misrepresented her age.
	B.	Win because defendant attempted to avoid the contract only after reaching her majority.
	C.	Lose because disaffirmance is permitted even though the property has been destroyed.
	D.	Win because an effective disaffirmance would have required defendant to return the property or its equivalent.

QUESTION 2

1. In which type of court would bankruptcy proceedings be heard:

	a.	Federal
	b.	County
	c.	City
	d.	State

QUESTION 26

1. If a transaction is tained by fraud, the innocent party may enforce the contract and seek damages for any injuries resulting from the fraud.

True

False

1. An assignment must be:

	a.	in writing
	b.	agreed to by all parties
	c.	supported by consideration
	d.	none of these

QUESTION 28

1. The Statue of Frauds requires that certain types of contract be evidenced by writing to be enforceable.

True

False

QUESTION 29

1. A contract made by an insane person who has been judicially declared insane by court order are:

	a.	valid
	b.	voidable
	c.	void
	d.	unenforceable

QUESTION 30

1. Which statement concerning the statute of limitations is true

	a.	it requires that certain contracts be made in writing
	b.	it requires the use of written evidence for the frail of an action
	c.	it specifies the time within which a lawsuit may be commenced
	d.	its provision is the same in all states