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1. The major body of law by which we are governed is a combination of statutory law and:
a) the Uniform Commercial Code; b) judicial law/precedent; c) the reasonable man standard; d) the state constitutions.
2. In negligence cases who decides the issue of fact whether the defendant breached a duty of care?
a) the police; b) the plaintiff; c) the eye witnesses; d) the jury.
3.Which of the following procedural rights is not waived by parties to an arbitration agreement?:
a) the right to raise a threshold issue in court challenging the validity of the arbitration agreement; b) pre-trial discovery; c) application of legal rules of evidence; d) the right to appeal from the arbitrators decision on the merits of the case.
4. The system by which the federal government and the 50 united states share power is called:
a) police power; b) due process; c) federalism; d) interstate commerce.
5. John promises to pay Baker $5,000 to work painting houses for the entire month of July. This is:
a) a unilateral contract; b) and executed contract; c) a quasi-contract; d) a bilateral contract.
6. Which of the following is a valid offer?
a) I plan to sell my car. I need the money. b) This pain-in-the-butt car! It never starts! If someone gave me $100 for it, I’d take it. c) I think this car is what you’re looking for. Would you like to buy it? d) I’m selling my ’99 Toyota Camry for $8,000. Are you interested?
7. Adequate consideration means:
a) voluntarily agreeing to assume a duty; b) voluntarily agreeing to give up a right; c) both a and b; d) none of the above.
8. Contracts for the sale of goods fall within a Statute of Frauds if the price involved is:
a) $100 or more; b) $250 or more; c) $500 or more; d) from $5,000 and up.
9. A contract resulting from fraudulent misrepresentation is:
a) void; b)voidable by either party; c) voidableby the fraudulent party; d) none of the above.
10. A covenant not to compete with another person’s business will be enforced if reasonable as to:
a) type of business involved; b) amount of liquidated damages; c) number of employees to be hired; d) time and geographical area.