BLS342 FINAL EXAM | 109 QUESTIONS |
WITH COMPLETE SOLUTIONS!!
1 of 109
Definition
Government can take property for public use and must compensate you if
they take it
Gvmt can limit use of property via zoning (no commercial biz in
residential)
Controversial when taken for economic development and sold to a
developer who profits from it
Give this one a try later!
, What does a patent protect? When is a contract governed by the
CISG?
What is eminent
domain/condemnation? Future Estate/Future Interest
Don't know?
2 of 109
Term
Under the UCC, what is required for agreement? Does the mirror-
image rule apply?
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Offer and acceptance, same
Formula, process, design, or recipe
as in common law
(like Coke recipe) that is kept
Mirror-image rule does not
secret and can't be reverse-
apply; they use battle of forms
engineered
Merchants' contract terms will
never exactly match. The last terms False; a contract need not be in
stated and not rejected are the violation of a statute in order to be
ones that illegal
apply
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3 of 109
,Definition
Acceptance is valid when offeree sends letter
Revocation of offer is valid when it's received
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Mailbox rule Perfect tender rule
Mirror image rule Parol evidence rule
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4 of 109
Term
Factors of duress - do not need all to get recission
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Adjudicated / ruled insane
Adjudicated / ruled habitually drunk
Anyone else with appointed legal guardians
Courts only focus on the contract
Don't consider testimony on oral evidence before/during the signing of the final
agreement
, One party threatens physical harm/extortion to gain consent to contract
One party threatens to file criminal lawsuit unless consent given to
contract terms
One threatens to walk out on an existing contract/threaten economic
interests
Acceptance is valid when offeree sends letter
Revocation of offer is valid when it's received
Don't know?
5 of 109
Term
Felix and Sylvain are merchants. In negotiating their contract, Felix
leaves out the price. Realizing his mistake, Felix tells Sylvain that
the contract must be rescinded under the UCC. Under the UCC,
which terms can be interpreted if left open in a contract?
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Parties, Price, payment, delivery, time,
location, and contract type
and duration
Quantity, quality, specifications, and Discounts, taxes, and insurance
warranties terms
Don't know?
6 of 109
WITH COMPLETE SOLUTIONS!!
1 of 109
Definition
Government can take property for public use and must compensate you if
they take it
Gvmt can limit use of property via zoning (no commercial biz in
residential)
Controversial when taken for economic development and sold to a
developer who profits from it
Give this one a try later!
, What does a patent protect? When is a contract governed by the
CISG?
What is eminent
domain/condemnation? Future Estate/Future Interest
Don't know?
2 of 109
Term
Under the UCC, what is required for agreement? Does the mirror-
image rule apply?
Give this one a try later!
Offer and acceptance, same
Formula, process, design, or recipe
as in common law
(like Coke recipe) that is kept
Mirror-image rule does not
secret and can't be reverse-
apply; they use battle of forms
engineered
Merchants' contract terms will
never exactly match. The last terms False; a contract need not be in
stated and not rejected are the violation of a statute in order to be
ones that illegal
apply
Don't know?
3 of 109
,Definition
Acceptance is valid when offeree sends letter
Revocation of offer is valid when it's received
Give this one a try later!
Mailbox rule Perfect tender rule
Mirror image rule Parol evidence rule
Don't know?
4 of 109
Term
Factors of duress - do not need all to get recission
Give this one a try later!
Adjudicated / ruled insane
Adjudicated / ruled habitually drunk
Anyone else with appointed legal guardians
Courts only focus on the contract
Don't consider testimony on oral evidence before/during the signing of the final
agreement
, One party threatens physical harm/extortion to gain consent to contract
One party threatens to file criminal lawsuit unless consent given to
contract terms
One threatens to walk out on an existing contract/threaten economic
interests
Acceptance is valid when offeree sends letter
Revocation of offer is valid when it's received
Don't know?
5 of 109
Term
Felix and Sylvain are merchants. In negotiating their contract, Felix
leaves out the price. Realizing his mistake, Felix tells Sylvain that
the contract must be rescinded under the UCC. Under the UCC,
which terms can be interpreted if left open in a contract?
Give this one a try later!
Parties, Price, payment, delivery, time,
location, and contract type
and duration
Quantity, quality, specifications, and Discounts, taxes, and insurance
warranties terms
Don't know?
6 of 109
