BUSN 420 WEEK 5 QUIZ / BUSN420 WEEK 5 QUIZ,Devry University: GRADED A | 100% CORRECT

BUSN 420 WEEK 5 QUIZ / BUSN420 WEEK 5 QUIZ,Devry University: GRADED A | 100% CORRECTBUSN 420 WEEK 5 QUIZ / BUSN420 WEEK 5 QUIZ,Devry University: GRADED A | 100% CORRECT BUSN 420 WEEK 5 QUIZ Question 1. Question : (TCO 4) In selling inventory control software to Apex Auto Parts Corporation, Bond tells Apex's purchasing agent that the software is almost human. This is _____. Student Answer: fraud duress puffery undue influence Instructor Explanation: See Chapter 13 Points Received: 2 of 2 Comments: Question 2. Question : (TCO 4) G initiates an online dating service. To attract subscribers and encourage participation, G creates and posts profiles of fictitious persons and exaggerated profiles of actual users. Fooled by the false profiles, Ham buys a subscription. He is most likely a victim of _____. Student Answer: undue influence fraud mistake nothing Instructor Explanation: See Chapter 13 Points Received: 2 of 2 Comments: Question 3. Question : (TCO 4) Dom, a salesperson for Excel Autos, promises Fern that a certain car will give her a smooth ride. Dom offers a test drive, which Fern declines. She buys the car but soon realizes that its suspension is in poor condition. Fern Student Answer: can rescind the contract on the ground of fraud. can rescind the contract on the ground of misrepresentation. can rescind the contract on the ground of mistake. was not defrauded. Instructor Explanation: See Chapter 13 Points Received: 2 of 2 Comments: Question 4. Question : (TCO 4) Reel Graphics, Inc. agrees to assume a debt of Suave Marketing Company to Town Credit Union. This promise is for Reel's benefit. To be enforceable, the promise _______ Student Answer: must be in writing. must be in writing only if the debt is valued at $500 or more. must be in writing only if the debt will not be repaid within one year. need not be in writing. Instructor Explanation: See Chapter 14 Points Received: 2 of 2 Comments: Question 5. Question : (TCO 4) Cody and Debora enter into an oral contract under which Cody agrees to work on Debora's ranch for not less than ten days. This contract is enforceable by _____. Student Answer: Cody only Debora only either party neither party Instructor Explanation: See Chapter 14 Points Received: 2 of 2 Comments: Question 6. Question : (TCO 4) Klint Microsystems, a microprocessor manufacturer, was contracted by Zeitar Studios to manufacture specially designed microchips to be used in an audio engineering process. Zeitar was to pay Klint $300,000 as per the contract. Klint decided to redesign their existing microchips and make them suitable for Zeitar. While the finished microchips were being shipped via a carrier, Klint was informed of Zeitar’s insolvency. Klint cancelled the shipment before it was delivered. Klint then resold the chips to another Studio where they had to settle for $150,000, as the chips were now only suitable for specific audio engineering processes. What legal action can Klint take against Zeitar? Student Answer: Sue and recover lost profits Sue to recover purchase price Get a court order asking for specific performance Exercise the buyer’s right to cover Instructor Explanation: See Chapter 20 Points Received: 0 of 2 Comments: Question 7. Question : (TCO 4) Which of the following is true in the event that an assignee does not provide a notice of assignment to the obligor? Student Answer: The assignee’s only course of action is to sue the obligee for damages. The assignee cannot sue the assignor for damages. The obligor’s only recourse is to sue the assignee for damages. The assignee cannot sue the obligor to recover payment. Instructor Explanation: See Chapter 15 Points Received: 0 of 2 Comments: Question 8. Question : (TCO 4) Ellen, who has a safe driving record, purchases automobile insurance from an insurance company. Ellen cannot assign her rights to be insured to another driver for which of the following reasons? Student Answer: The assignment would materially alter the risk and duties of the insurance company. Claiming insurance is a future right and hence cannot be assigned. Insurance is a personal service contract and hence cannot be assigned. Personal contracts like insurance are assignable only with the agreement of all parties involved in the contract. Instructor Explanation: See Chapter 15 Points Received: 2 of 2 Comments: Question 9. Question : (TCO 4) Pure Oil Company enters into a contract with QuikBilt, Inc., to construct an oil pipeline to withstand specific conditions. If QuikBilt fails to meet this standard, which is construed as a breach of contract and a breach of a duty of care, Pure might be awarded punitive damages to _____ Student Answer: establish, as a matter of principle, that QuikBilt acted wrongfully. provide Pure with funds for a foreseeable loss beyond the contract. provide Pure with funds for its loss of the bargain. punish QuikBilt and deter others from similar acts. Instructor Explanation: See Chapter 20 Points Received: 2 of 2 Comments: Question 10. Question : (TCO 4) Handy Hardware Store agrees to hire Ilsa for one year at a salary of $500 per week. When Handy cancels the contract, Ilsa spends $100 to obtain a similar job that pays $450 per week for a year. Ilsa is entitled to recover _____ Student Answer: the amount of the wages that Handy promised only. the difference between the wages at the two jobs only. the difference between the wages at the two jobs plus $100. $100 only. Instructor Explanation: See Chapter 20 Points Received: 2 of 2 Comments: * Times are displayed in (GMT-07:00) Mountain Time (US & Canada)