BUSI 2001 FINAL EXAM WEEK 6 WITH ANSWERS

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BUSI 2001 FINAL EXAM
WEEK 6 WITH ANSWERS
Week 6: Negotiable Instruments and Government Regulation - Final Exam Help



Time Remaining:

1. Except as provided by statute, oral contracts are just as enforceable as written
contracts. (Points: 5)
True
False


2. Full performance is the most common method by which contracts are discharged.
(Points: 5)
True
False


3. One of the elements necessary to establish fraud is a false statement or concealment of
a material fact. (Points: 5)
True
False


4. The UCC requires all parties entering a sales contract to perform their obligations in
good faith. (Points: 5)
True
False


5. The term goods includes intangible personal property such as shares of stock. (Points:
5)
True
False


6. A check is an instrument that is payable on demand. (Points: 5)

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BUSI 2001 FINAL EXAM
WEEK 6 WITH ANSWERS
True
False


7. Gambling is a legal form of playing for stakes, such as in a lottery. (Points: 5)
True
False


8. The parol evidence rule states that terms of a written contract can be changed by prior
oral or written agreements. (Points: 5)
True
False


9. If the subject matter essential to the performance of the contract is destroyed through
no fault of either party, the contract is considered discharged. (Points: 5)
True
False


10. When money damages do not adequately and fairly compensate for a loss, the injured
party can sue for specific performance or request a court to issue an injunction. (Points:
5)
True
False


11. In seeking damages, the victim of a breach of contract has a duty to (Points: 5)
Increase the amount of the damages
Mitigate the damages
Liquidate the damages
Rescind the contract


12. Jones sued Smith for breach of contract. The court awarded Jones damages of $1.