Question 412 pts

41. Usury laws prohibit charging interest above a certain statutory limit on loans? T or F

Group of answer choices

a. True

b. False

No answer text provided.

No answer text provided.

Flag question: Question 42Question 422 pts

42. If a contract uses a clause to excuse liability in the event of injury to another person it is known as a __________________ clause?

1. Release clause
2. Get out of liability clause
3. Exculpatory clause
4. All the above

Group of answer choices

4. All the above

2. Get out of liability clause

3. Exculpatory clause

1. Release clause

Flag question: Question 43Question 432 pts

43. A minor may enter into a contract that is valid and binding on all of the parties? T or F

Group of answer choices

2. False

1. True

No answer text provided.

No answer text provided.

Flag question: Question 44Question 442 pts

44. Being intoxicated at the time of agreeing to a contract is an argument that can be used by one party to a contract as a way to get out of a contract? T or F

Group of answer choices

No answer text provided.

a. True

No answer text provided.

b. False

Flag question: Question 45Question 452 pts

45. Angela makes a material misstatement of fact to Frances, which Frances relies on when she signs Angela's contract. Fraud exists if Angela made the misstatement__________________

1. Intentionally
2. Recklessly
3. Carelessly
4. Both A & B
5. A & and B & C

Group of answer choices

4. Both A & B

5. A & and B & C

2. Recklessly

1. Intentionally

3. Carelessly

Flag question: Question 46Question 462 pts

46. A void contract and a voidable contract are basically the same thing in contract law? T or F

Group of answer choices

b. False

No answer text provided.

No answer text provided.

a. True

Flag question: Question 47Question 472 pts

47. Contracts for the purchase of real estate in Washington State must be:

1. In writing
2. Notarized
3. Both A & B
4. On a specific real estate purchase form

Group of answer choices

2. Notarized

4. On a specific real estate purchase form

1. In writing

3. Both A & B

Flag question: Question 48Question 482 pts

48. The basic contract rule under the UCC Sec. 2-201(s) is that a contract for the sale of goods of _________ or more are not enforceable unless the contract is in writing:

1. $5,000
2. $500
3. $1,000
4. Both A & B

Group of answer choices

4. Both A & B

3. $1,000

1. $5,000

2. $500

Flag question: Question 49Question 492 pts

49. The assignment of duties and the delegation of duties are essentially the same thing? T or F

Group of answer choices

No answer text provided.

b. False

No answer text provided.

a. True

Flag question: Question 50Question 502 pts

50. When a contract is completed we call the contract _________

1. Complete
2. Finished
3. Discharged
4. Wound up

Group of answer choices

2. Finished

1. Complete

4. Wound up

3. Discharged

Flag question: Question 51Question 512 pts

51. The statute of frauds exists to provide the court with the best possible evidence of whether the parties intended to make a contract? T or F

Group of answer choices

b. False

No answer text provided.

No answer text provided.

a. True

Flag question: Question 52Question 522 pts

52. Specific performance is a remedy that can be ordered by the court in a civil lawsuit? T or F

Group of answer choices

No answer text provided.

a. True

No answer text provided.

b. False

Flag question: Question 53Question 532 pts

53. Parol (some persons spell it "parole") evidence is rarely admissible at trial to prove what the parties intended if a valid written agreement exists? T or F

Group of answer choices

a. True

b. False

No answer text provided.

No answer text provided.

Flag question: Question 54Question 542 pts

54. A person that is not a party to a contract but stands to benefit from the contract is called a?

1. Promisor
2. Assignor
3. Third party beneficiary
4. Secondary party beneficiary
5. All of the above

Group of answer choices

2. Assignor

3. Third party beneficiary

1. Promisor

5. All of the above

4. Secondary party beneficiary

Flag question: Question 55Question 552 pts

55. Shipping terms include

1. FOB place of shipment
2. FOB place of destination
3. CIF
4. All of the above

Group of answer choices

4. All of the above

2. FOB place of destination

1. FOB place of shipment

3. CIF

Flag question: Question 56Question 562 pts

56. Warranties may be expressed or implied? T or F

Group of answer choices

No answer text provided.

a. True

No answer text provided.

b. False

Flag question: Question 57Question 572 pts

57. A statute of limitations for when a party may file a lawsuit in a state court, is a time limit that is set by each state? T or F

Group of answer choices

No answer text provided.

a. True

b. False

No answer text provided.

Flag question: Question 58Question 582 pts

58. A force majeure clause in a contract permits the cancellation of a contract based on an extraordinary or unexpected event like an act of God, fire, or labor dispute should one occur during the life of the contract? T of F

Group of answer choices

True

False

Flag question: Question 59Question 592 pts

59. Negotiable instruments include:

1. Promissory notes
2. Checks/drafts
3. Contracts for the sale of an automobile
4. Both A & B
5. All of the above

Group of answer choices

5. All of the above

3. Checks/drafts Contracts for the sale of an automobile

1. Promissory notes

4. Both A & B

2. Checks/drafts

Flag question: Question 60Question 602 pts

60. When a business or individual files for bankruptcy the creditors must ___________

1. Stop contacting the debtor
2. May continue to try and collect their money but in a non-hostile manner
3. Can call between 8am and 8pm, M-F
4. Any combination of A, B, or C as long as they use an attorney

Group of answer choices

c. Can call 8am to 8pm, M-F

b. May continue to try and collect their money but in a non-hostile manner

a. Stop contacting the debtor

d. Any combination of a, b, or c as long as they use an attorney