Which of the following is a TRUE statement about partnerships?

A.

Partners always have the power, though not necessarily the right, to dissolve a partnership.B.A court cannot order the dissolution of a partnership as that matter is left up to the sole discretion of the partners.

C.A partnership cannot own real property since it is merely an association of individual partners.

D.Dissolution will automatically terminate a partnership.

Which of the following is a true statement?

A.

Increased cost resulting from inflation probably will not excuse a supplier from performing a contract on the grounds of commercial impracticality.B.A buyer of goods generally is required to inspect any goods he or she receives.

C.S Engineering contracts for a sale of flight instruments to B Aircraft Company. S notifies B that regrettably it would not be able to perform the contract as agreed prior to the date on which performance is due. This is an example of rescission.

D.X, the owner of a bicycle store, sells a pre-owned motorcycle to Y. X is a merchant for purposes of the UCC if he holds himself out by occupation or training as having knowledge and skill unique to motorcycles.

As a U.S. judge, the judge normally

A.

very actively participates in a trial.B.does not actively participate in a trial.

C.is expected to question witnesses in a trial.

D.is influence by politics.

A novation is best described as an example of

A.

Illegal activityB.A third party beneficiary contract

C.A license

An assignment and delegation combined