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Section I.TRUE/FALSE . ( Max. 20 Points ) For each of the following statements, indicate (with a T or F) whether the statement is True
Section I.TRUE/FALSE. (Max. 20 Points)
For each of the following statements, indicate (with a "T" or "F") whether the statement is True or False.Each correct response is worth two (2) points.
want to make sure answers are correct
- ___T______. The relationship between an employee and employer is one of a fiduciary nature in which the employee owes a duty of good faith, loyalty, honesty and fair dealing to the employer.
- _____T_____. A gift, including gifts of love and affection, does not generally constitute valid consideration to support a contract.
- _____T_____.An unilateral contract is one that is typically made in a general way to an identifiable group of persons and invites an acceptance by the performance of a specified act or acts.
- ___F______. The doctrines of promissory estoppel and unjust enrichment allow a Court to provide the reasonable value of goods or services where the party who received the goods or services did so in the absence of a legally-binding contract and the interests of justice require such an outcome.
- ___F______. In general, the common law governs contracts for the sale of services, including professional services, and real estate interests while the Uniform Commercial Code governs merchant contracts for the sale of goods.
- ___F______. All legal, enforceable contracts for the transfer of interests in real estate are required to be in writing and formally signed by the parties pursuant to the Statute of Frauds.
- ____F_____. Agreements made with minors are generally voidable by the minor and may be disavowed when the minor attains the age of majority, provided the disaffirmance occurs within a reasonable time after attaining the age of majority.
- ____T_____. In general, contracts that give one party the ability to cancel the parties' obligations in his or its sole discretion are illusory and are not enforceable due to a lack of contractual intent.
- ____T_____. At common law, an acceptance that does not accept the terms of an offer exactly as made is deemed at law to be a rejection of the original offer and a counteroffer.
- ___F_______. A promise not to compete with your employer for a certain term of months or years after you leave its employ is also known as a "restrictive covenant" and is enforceable by the courts in general if it is reasonable in scope.
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