BUS 311 Week 2 Quiz

This work of BUS 311 Week 2 Quiz shows the solutions to the following problems:

1. Examples of businesses that are government granted franchises include all of the following except:

2. To be legally enforceable, an agreement must impose both a legal and moral obligation.

3. The party to whom a promise is made in the making of a contract is known as:

4. Emancipated minors are generally liable for necessaries purchased for themselves.

5. A call for a bid or estimate for materials to be furnished or work to be done is considered a(n):

6. FTC regulations give consumers a right to cancel contracts made in the consumer's home and to receive a full refund, within how many days?

7. If a tender of performance of an act is refused, the person making the offer is:

8. Contracts that must be in writing to be enforceable include all of the following except:

9. An advertisement, such as one that appears every day on television, on radio, in a newspaper, in a magazine, or on a website, is generally regarded as an:

10. Consideration in an agreement means:

11. Prenuptial agreements relating to custody of children in the event of divorce or separation are enforceable.

12. The terms of an implied contract can be understood from all of the following except:

13. When a loan is made at an interest rate higher than that allowed by state law, the lender is guilty of:

14. A court order prohibiting the performance of a certain act is known as:

15. All of the following persons are usually considered incompetent and lacking in contractual capacity except:

16. The UCC requires that sale of personal property be in writing if it is:

17. If a third party enters a contract as a result of a novation, the party whose rights or duties are assumed is:

18. When an agreement is obtained through fraud, it is considered:

19. Once the minor reaches the legal age of majority, the contract must be:

20. Offers are terminated in any of the following ways except

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