1. The holder of an artisans lien must give notice to the owner of the property prior to

   	a.	None of the choices.
   	b.	closing of escrow.
   	c.	the appraisal.
   	d.	foreclosure and sale.

2. When anticipatory repudiation occurs, the nonbreaching party may

   	a.	suspend performance.
   	b.	suspend consideration.
   	c.	suspend accommodation.
   	d.	suspend agreement

3. Merchants can satisfy the Statute of Frauds if, after the parties have agreed orally, one of the merchants sends a signed written confirmation to the other merchant

   	a.	within a reasonable time.
   	b.	two years later.
   	c.	one year later.
   	d.	one month later.

4. A merchant who deals in goods of the kind sold (or leased), automatically gives rise to an implied warranty of merchantability.

   True

   False

5. The transfer of contractual duties to a third party is known as

   	a.	an agreement.
   	b.	a delegation.
   	c.	an assignment.
   	d.	a consideration.

6. A mistake that occurs when both parties to a contract are mistaken about the same material fact is

   	a.	unilateral.
   	b.	bilateral.
   	c.	duress.
   	d.	undue influence.

7. Which is not a basic requirement for an e-contract?

   	a.	legality.
   	b.	consideration.
   	c.	agreement.
   	d.	bargained-for exchange

8. Businesses generally attempt to protect their ________ by having all employees who use the process (or information) agree in their contracts, or in confidentiality agreements, never to divulge it.

   	a.	trade secrets
   	b.	trade dress
   	c.	patents
   	d.	copyrights