Test Bank For Business Law and Strategy, 2nd Edition All Cha
p p p p p p p p p p
pters – 9781265676506 p p
CHAPTER 1 p
A legal union of a man and a woman as husband and wife - ANS-
p p p p p p p p p p p p p p
Marriage
p
T/F no law specifies a minimum age for dating - ANS-True
p p p p p p p p p p
All states require both parties to be 18 to marry without parental cons
p p p p p p p p p p p p
ent except this state - ANS-Nebraska
p p p p p
T/F majority of states allow relatives to marry - ANS-False
p p p p p p p p p
What responsibilities does a male have if he gets a female pregnant b
p p p p p p p p p p p p
efore marriage - ANS-
p p p
pay his share of the females medical bills and contribute to the child's
p p p p p p p p p p p p p
support until the child reaches adulthood
p p p p p
Do laws exist to force the parents of an illegitimate child to marry? -
p p p p p p p p p p p p p
ANS-No
p
When a man and woman live together outside of marriage - ANS-
p p p p p p p p p p p
Cohabitation
p
,T/F cohabitation used to be considered illegal - ANS-True
p p p p p p p p
If one party in a relationship proposes marriage and the other accepts, what
p p p p p p p p p p p p p
is formed? - ANS-A binding contract
p p p p p
If only one party wants out of the marital contract and refuses to
p p p p p p p p p p p p
perform, what suit may be brought by the other party - ANS-
p p p p p p p p p p p
Breach of promise suit p p p
Today some states only allow breach of promise suits in what case? -
p p p p p p p p p p p p
ANS-If the woman is pregnant and the ex fiancé is the father
p p p p p p p p p p p p
Does a woman have to return gifts given by her ex fiancé - ANS-
p p p p p p p p p p p p p
No, there was intent, delivery, and acceptance
p p p p p p
Why is the engagement ring an exception to the gift rule - ANS-
p p p p p p p p p p p p
It is directly related to the fulfillment of the marital contract
p p p p p p p p p p
If a couple breaks up after a proposal can the man demand for the ring ba
p p p p p p p p p p p p p p p
ck? Why? - ANS-Yes. Ring directly related to fulfillment of marriage
p p p p p p p p p p
When a single woman and a single man live together, share common propert
p p p p p p p p p p p p
y, and hold themselves out as husband and wife over a
p p p p p p p p p p
prolonged period of time (usually 10 years or longer) - ANS-
p p p p p p p p p p
Common law marriage p p
,T/F most states acknowledge common law marriage as a real marriage -
p p p p p p p p p p p
ANS-False, most states have outlawed common law marriage
p p p p p p p p
Elements of Contract - ANS-1. Offer p p p p p
2. Acceptance
3. Consideration
4. Contractual Capacity p
5. Legality
Offer - ANS- p p
must be a definite, clearly stated offer to do something. For example: A quot
p p p p p p p p p p p p p
ation by sub-contractor to the main contractor and an offer to lease.
p p p p p p p p p p p
An offer does not include ball park estimates, requests for proposals, exp
p p p p p p p p p p p
ressions of interest, or letters of intent.
p p p p p p
Sources of Contract Law - ANS-Common law governs all contracts
p p p p p p p p p
except when it has been modified or replaced by statutory law such as th
p p p p p p p p p p p p p
e UCC (Uniform Commercial code), or by administrative agency
p p p p p p p p
regulations
, Contract Areas governed by common law - ANS-
p p p p p p p
services, real estate, employment, and insurance
p p p p p
Contracts governed by UCC - ANS- p p p p p
sale and lease of goods Promisor - ANS-
p p p p p p p
the person making the promise
p p p p
Promisee - ANS-the person to whom the promise is made
p p p p p p p p p
Purpose of Contracts - ANS-
p p p p
in business: to avoid potential disputes many times, bc of moral oblig
p p p p p p p p p p p
ation
Contract - ANS- p p
a promise or a set of promises for the breach of which the law gives a re
p p p p p p p p p p p p p p p p
medy, or the performance of which the law in some way recognizes as
p p p p p p p p p p p p p
a duty
p
simply: it is a legally binding agreement between two or more parties wh
p p p p p p p p p p p p
o agree to perform or to refraim from performing some act now or in the f
p p p p p p p p p p p p p p p
uture
Reasons for contract disputes - ANS-
p p p p p
usually when there is a promise of future performance and it is not fulfilled
p p p p p p p p p p p p p
p p p p p p p p p p
pters – 9781265676506 p p
CHAPTER 1 p
A legal union of a man and a woman as husband and wife - ANS-
p p p p p p p p p p p p p p
Marriage
p
T/F no law specifies a minimum age for dating - ANS-True
p p p p p p p p p p
All states require both parties to be 18 to marry without parental cons
p p p p p p p p p p p p
ent except this state - ANS-Nebraska
p p p p p
T/F majority of states allow relatives to marry - ANS-False
p p p p p p p p p
What responsibilities does a male have if he gets a female pregnant b
p p p p p p p p p p p p
efore marriage - ANS-
p p p
pay his share of the females medical bills and contribute to the child's
p p p p p p p p p p p p p
support until the child reaches adulthood
p p p p p
Do laws exist to force the parents of an illegitimate child to marry? -
p p p p p p p p p p p p p
ANS-No
p
When a man and woman live together outside of marriage - ANS-
p p p p p p p p p p p
Cohabitation
p
,T/F cohabitation used to be considered illegal - ANS-True
p p p p p p p p
If one party in a relationship proposes marriage and the other accepts, what
p p p p p p p p p p p p p
is formed? - ANS-A binding contract
p p p p p
If only one party wants out of the marital contract and refuses to
p p p p p p p p p p p p
perform, what suit may be brought by the other party - ANS-
p p p p p p p p p p p
Breach of promise suit p p p
Today some states only allow breach of promise suits in what case? -
p p p p p p p p p p p p
ANS-If the woman is pregnant and the ex fiancé is the father
p p p p p p p p p p p p
Does a woman have to return gifts given by her ex fiancé - ANS-
p p p p p p p p p p p p p
No, there was intent, delivery, and acceptance
p p p p p p
Why is the engagement ring an exception to the gift rule - ANS-
p p p p p p p p p p p p
It is directly related to the fulfillment of the marital contract
p p p p p p p p p p
If a couple breaks up after a proposal can the man demand for the ring ba
p p p p p p p p p p p p p p p
ck? Why? - ANS-Yes. Ring directly related to fulfillment of marriage
p p p p p p p p p p
When a single woman and a single man live together, share common propert
p p p p p p p p p p p p
y, and hold themselves out as husband and wife over a
p p p p p p p p p p
prolonged period of time (usually 10 years or longer) - ANS-
p p p p p p p p p p
Common law marriage p p
,T/F most states acknowledge common law marriage as a real marriage -
p p p p p p p p p p p
ANS-False, most states have outlawed common law marriage
p p p p p p p p
Elements of Contract - ANS-1. Offer p p p p p
2. Acceptance
3. Consideration
4. Contractual Capacity p
5. Legality
Offer - ANS- p p
must be a definite, clearly stated offer to do something. For example: A quot
p p p p p p p p p p p p p
ation by sub-contractor to the main contractor and an offer to lease.
p p p p p p p p p p p
An offer does not include ball park estimates, requests for proposals, exp
p p p p p p p p p p p
ressions of interest, or letters of intent.
p p p p p p
Sources of Contract Law - ANS-Common law governs all contracts
p p p p p p p p p
except when it has been modified or replaced by statutory law such as th
p p p p p p p p p p p p p
e UCC (Uniform Commercial code), or by administrative agency
p p p p p p p p
regulations
, Contract Areas governed by common law - ANS-
p p p p p p p
services, real estate, employment, and insurance
p p p p p
Contracts governed by UCC - ANS- p p p p p
sale and lease of goods Promisor - ANS-
p p p p p p p
the person making the promise
p p p p
Promisee - ANS-the person to whom the promise is made
p p p p p p p p p
Purpose of Contracts - ANS-
p p p p
in business: to avoid potential disputes many times, bc of moral oblig
p p p p p p p p p p p
ation
Contract - ANS- p p
a promise or a set of promises for the breach of which the law gives a re
p p p p p p p p p p p p p p p p
medy, or the performance of which the law in some way recognizes as
p p p p p p p p p p p p p
a duty
p
simply: it is a legally binding agreement between two or more parties wh
p p p p p p p p p p p p
o agree to perform or to refraim from performing some act now or in the f
p p p p p p p p p p p p p p p
uture
Reasons for contract disputes - ANS-
p p p p p
usually when there is a promise of future performance and it is not fulfilled
p p p p p p p p p p p p p
