LAW 421 Final Exam Latest
1. When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of the following:
• Specific Performance
• Revoking Acceptance
• Lawsuit for Money Damages
2. Which of the following would be considered intangible property?
• A right of ownership or possession
• An apartment
3. Upon her return home from work, Maria discovered that her lawn has been mowed and trimmed. An hour later, a male stranger comes to her door for payment for the lawn work. Maria refuses any payment because she had not hired him to do the work. In these circumstances
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Which of the following ADR methods results in a decision rendered by the hearing officer?
• Third-party evaluation
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9. The principle challenge faced by international courts include
• obtaining universal recognition and participation in its processes by the U.N. and W.T.O.
• articulating universally applicable rules of law that reflect multiple legal systems faithfully.
• enforcing it's judgments on sovereign nations.
• finding judges skilled in international law.
10. The following is required for disclaiming a warranty:
• Common law authority
• Conspicuous language in the sales contract itself
• Writing, posted in a public space and incorporated by reference in the contract
• The word "merchantability" need not be included, if a warranty of merchantability is to be disclaimed
11. The term cybersquatting means
• use of mechanical devices(s) or malicious software to deny service to a company's website.
• hacking into a company's website to insert a virus (or Trojan horse) designed to steal information as the site continues in operation.
• hacking into a company's website to install a virus designed to cause the company's website to operate extremely slowly.
• registering multiple domain names using names from famous trademarks with an intent to sell them to the companies owning the famous marks at inflated prices.
12. The UCC will permit an incomplete or slightly ambiguous contract to be enforced using which of the following criteria?
• Past commercial conduct
• Correspondence or oral exchanges between the competing parties
• Insertion of any terms judicially determined to be necessary to establish fairness
• Projected industry standards or norms
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13. Ben is the manager of a branch of a large bank. He has regularly taken money from customer's accounts for his own use and falsified the bank's records to "cover" his actions. Ben is guilty of
• engaging in a Ponzi scheme.
14. When an offer can only be accepted by performance of the person to whom it is made, the form of contract involved is
• unilateral contract.
• bilateral contract.
• quasi contract.
• implied contract.
15. The utilitarian approach to moral philosophy was founded by whom?
• Immanuel Kant
• Kenneth Lay
• Jeremy Bentham
16. With regard to the legal element of consideration in a sales contract, the UCC differs from the common law in that
• consideration is not required in sales contracts.
• consideration in a sales contract may be modified provided that adequate additional consideration is given for that modification.
• the consideration exchanged must be judicially determined to be adequate.
• consideration in a sales contract may be modified without additional consideration under certain circumstances.