BUSFIN 3500 Exam 2 Review (Practice Quizzes &
Terms) Questions And Answers| Already Graded A+|
Latest Update 2026
To be valid, a contract must be in writing and signed or notarized. (True or False)
False
2 multiple choice options
Developer agreed to rent a store to Retailer in a new shopping mall beginning
September 1st. This would be Retailer's first store in the metropolitan area. If the
mall was not completed on schedule and Retailer was not allowed to move in until
September 15th, can Retailer recover 15 days' lost profits from Developer?
No because lost profits are uncertain.
3 multiple choice options
When someone breaches a contract, courts most often order them to perform it.
(True or False)
False
2 multiple choice options
Sasha, the owner of Mucho Munchies, Inc. a Midwestern restaurant chain, told
Erin, a manager in the Columbus restaurant, that whenever the regional
manager's position for Ohio became vacant, Erin would be promoted to the
position at whatever the regional manager's salary is at the time. A month later,
Erin turned down an offer from a competitor to be the regional manager of one of
its regions. A year later, the regional manager's position became vacant, but Sasha
promoted Jan to the job. Under these circumstances.
Erin can successfully sue Sasha in a cause of action alleging promissory estoppel.
3 multiple choice options
, On October 1st an employer offers you a job starting May 3rd, which is after final
exams are over Spring semester. Graduation is May 7th. You respond to the
employer's offer by saying that you accept, starting May 8th. The employer does
not respond. Two weeks later you call the employer and tell the employer you will
start May 3rd, after all. You and the employer have:
No contract, because you rejected the employer's offer.
3 multiple choice options
Advertisements create offers that can be accepted to make a binding contract.
(True or False)
False
3 multiple choice options
The parol evidence rule does not apply to:
Written agreements which were obtained by fraud.
3 multiple choice options
Erstwhile & Erstwhile is a small public accounting firm with twelve employees.
Erstwhile maintained a single office in Columbus, Ohio. All of Erstwhile's clients
were located in Ohio. Erstwhile employed Julius as a senior accountant. The
employment contract provided that if the employment should be terminated for
any reason, Julius would not engage in the practice of public accounting nor
accept employment by a public accounting firm anywhere in the United States for
a period of five years.
The agreement would probably be unreasonable and unenforceable against Julius.
3 multiple choice options
Chapter 6 Quiz
Go to next flashcard.
Jack and Jill went up the fill to fetch a pail of water. Jack pushed Jill down. She
broke her crown. So Jack is liable for battery. (True or False)
Terms) Questions And Answers| Already Graded A+|
Latest Update 2026
To be valid, a contract must be in writing and signed or notarized. (True or False)
False
2 multiple choice options
Developer agreed to rent a store to Retailer in a new shopping mall beginning
September 1st. This would be Retailer's first store in the metropolitan area. If the
mall was not completed on schedule and Retailer was not allowed to move in until
September 15th, can Retailer recover 15 days' lost profits from Developer?
No because lost profits are uncertain.
3 multiple choice options
When someone breaches a contract, courts most often order them to perform it.
(True or False)
False
2 multiple choice options
Sasha, the owner of Mucho Munchies, Inc. a Midwestern restaurant chain, told
Erin, a manager in the Columbus restaurant, that whenever the regional
manager's position for Ohio became vacant, Erin would be promoted to the
position at whatever the regional manager's salary is at the time. A month later,
Erin turned down an offer from a competitor to be the regional manager of one of
its regions. A year later, the regional manager's position became vacant, but Sasha
promoted Jan to the job. Under these circumstances.
Erin can successfully sue Sasha in a cause of action alleging promissory estoppel.
3 multiple choice options
, On October 1st an employer offers you a job starting May 3rd, which is after final
exams are over Spring semester. Graduation is May 7th. You respond to the
employer's offer by saying that you accept, starting May 8th. The employer does
not respond. Two weeks later you call the employer and tell the employer you will
start May 3rd, after all. You and the employer have:
No contract, because you rejected the employer's offer.
3 multiple choice options
Advertisements create offers that can be accepted to make a binding contract.
(True or False)
False
3 multiple choice options
The parol evidence rule does not apply to:
Written agreements which were obtained by fraud.
3 multiple choice options
Erstwhile & Erstwhile is a small public accounting firm with twelve employees.
Erstwhile maintained a single office in Columbus, Ohio. All of Erstwhile's clients
were located in Ohio. Erstwhile employed Julius as a senior accountant. The
employment contract provided that if the employment should be terminated for
any reason, Julius would not engage in the practice of public accounting nor
accept employment by a public accounting firm anywhere in the United States for
a period of five years.
The agreement would probably be unreasonable and unenforceable against Julius.
3 multiple choice options
Chapter 6 Quiz
Go to next flashcard.
Jack and Jill went up the fill to fetch a pail of water. Jack pushed Jill down. She
broke her crown. So Jack is liable for battery. (True or False)
