Question
QUESTION 1 In a non-compete agreement, the term ancillary means that a.the non-compete agreement must be part of a larger agreement. b.both parties must have
QUESTION 1
In a non-compete agreement, the term "ancillary" means that
a.the non-compete agreement must be part of a larger agreement.
b.both parties must have a stake in the outcome.
c.the non-compete agreement is unfair to the employee, but not the employer.
d.the agreement is harmless to the general public.
QUESTION 2
Some of the elements of a contract are acceptance, consideration, legality, and capacity.
True
False
QUESTION 3
In contract law, a minor is someone under the age of 21.
True
False
QUESTION 4
Which of the following terms designates the legal ability of a party to enter into a contract?
a.Affirmation
b.Consent
c.Capacity
d.Materiality
QUESTION 5
To formally cancel a contract is to _______ it.
a.disaffirm
b.affirm
c.rescind
d.ratify
QUESTION 6
Amanda, a recent university graduate, needed a car to get to her new job. To help Amanda secure a loan for the car, Ted, a friend, agreed to pay the loan should Amanda default. Ted's promise to pay the loan is a collateral promise. His promise must be in writing to be enforceable.
True
False
QUESTION 7
To be valid, an agreement not to compete must be ancillary to a legitimate bargain.
True
False
QUESTION 8
If Jane persuades Linda to buy her horse by telling Linda that the horse runs "like the wind," then Jane's statement is
a.a unilateral mistake.b.fraud.c.puffery.d.reckless misrepresentation.
QUESTION 9
Fraudulent but innocent misrepresentation permits the injured party to rescind a contract.
True
False
QUESTION 10
Alex promises to pay $100 to anyone who finds his lost watch. Kate finds and returns the watch to Alex after hearing of the reward money. Alex and Kate have an enforceable unilateral contract.
True
False
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started