BUSI 301 Week 3 Quiz

BUSI 301 Week 3 Quiz | Assignment Help | Liberty University 

Question 1

Nominal damages are rarely awarded in contract cases.

Question 2

Carla has a contract with Alexis in which Alexis is to deliver 1,000 hand-decorated beverage holders in 60 days. When Carla calls the Psychic Hotline for her weekly reading, the psychic informs her that she has entered into a contract and the other party will not perform all the conditions and specifications in accordance with the agreement. Based on this knowledge, Carla may sue for an anticipatory repudiation.

Question 3

Arnie and Matt are involved in a car accident. Immediately before the accident, Arnie was observed speeding and driving erratically. On the other hand, Matt was obeying the speed limit and driving in a very cautious and responsible manner. As a result of the accident, Matt's car needs $2,500 worth of repairs and Matt loses a week's salary because he has to take time off to recover from injuries sustained during the crash. Which of the following statements best describes the nature of the damages in this case?

Question 4

Incidental beneficiaries are identified during the formation of the contract and known to the parties.

Question 5

Kathy and Tom have entered into a contract in which Mike has been named and included as an intended beneficiary by Kathy. Should Tom or Kathy breach the contract, Mike may sue both Tom and Kathy for breach of contract.

Question 6

 In a delegation situation, the non-delegating party is called the

Question 7

When parties agree to an accord and satisfaction, the original obligation subject to the accord is immediately discharged.

Question 8

In which of the following situations would a delegation of contractual duties be allowed?

Question 9

The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria except:

Question 10

UCC risk of loss provisions will govern the terms of a contract even if the parties have specified risk allocation in the contract.

Question 11

If the seller ships conforming goods, the buyer has a duty to accept them and may not reject the goods.

Question 12

Which of the following items would be properly subject to a UCC sales contract?

Question 13

The only state that has not adopted the UCC is

Question 14

In a shipping contract, the risk of loss passes to the buyer when

Question 15

A party holds title to goods when the goods have come into existence and the goods are identified to the contract.

Question 16

In a destination contract, risk of loss passes to the buyer when the goods

Question 17

With regard to consideration in a sales contract, the UCC differs from the common law in that

Question 18

Res ipsa loquitur does not require that the plaintiff prove the exact cause of negligence.

Question 19

Lost revenue or profits, whether actual or potential, are called ________ harm.

Question 20

Courts are bound by the Restatement of Torts, once it is published.

Question 22

Products liability law arises from

Question 23

The Restatement (Third) of Torts is currently the most recent edition.

Question 24

Bruno is a technician at a university chemistry lab and is in charge of safety inspections and prevention of injury due to faulty equipment. One morning, as a result of his inspection, Bruno discovers a gas burner with a broken valve. Bruno gets distracted and fails to put an "OUT OF ORDER/DO NOT USE" sign on the faulty burner. When the morning class arrives, Halle uses the faulty burner and is burned when it catches fire. Bruno's negligence is based on

Question 25

________ is typically defined as intentionally committing a wrongful act with intent to harm.