Business law. please answer for me these multuple choses without giving an expla
ID: 466549 • Letter: B
Question
Business law. please answer for me these multuple choses without giving an explanation just i want the answers please
1) The statute of frauds makes oral contracts that are covered by its provisions:
Void
Negligence per se
Unenforceable
Illegal
2) X contracts to build a building for Y, thinking that he will make a profit on the deal. Later, X discovers that she has miscalculated and that the job will not be profitable. In this situation, X is NOT excused from performing on the contract because of commercial impractibility.
True
False
3) A party may excuse the occurrence of a condition and thereby bind herself contractually to the contract by waiving the condition.
True
False
4) Once an assignment is complete, the assignee can assign the contract rights to another assignee as long as the terms are not changed.
True
False
5) Which of the following is always necessary for there to be a valid assignment?
None of the above are always necessary
consideration
a writing
a filing with a local court
6) In order for an assignment to be valid, the assignee should notify the obligor of the assignment, although failure to notify does not invalidate the assignment.
True
False
7) A novation may relieve a party of the duty to perform under the terms of the contract.
True
False
8) Which of the following is covered by the statute of frauds?
A contract involving marriage with a minor
A $300 contract for the sale of pencils
A unilateral contract that cannot be performed in ten years
A real estate contract
9) Which of the following generally is not recoverable in a contract suit?
consequential damages
icidental damages
punitive damages
nominal damages
10) Which of the following rights is most likely to be assignable?
A contract to receive 500 baseball caps
Future wages
A contract to build a house for the assignor
A contract to sign at a concert
11) The statute of frauds covers all contracts that cannot be performed within one year under their terms.
True
False
12) In order to satisfy the statute of frauds, the parties' writing must:
Be signed by the party to be charged (the person using the statute of frauds as a defense) or her agent.
Be kept in a safe deposit box
Be signed by both parties
Be notarized
13) All contractual conditions must be express, because the contract must express the parties intent with specificity.
True
False
14) X contracts with Y to produce an ad for a 4th of July "freedom fundraising party". Y does not produce and deliver the ad until July 6th. In this case, Y's breach of the contract in not a material breach unless the contract clearly stated that time is of the essence.
True
False
A.Void
B.Negligence per se
C.Unenforceable
D.Illegal
Explanation / Answer
1) A (Void)
2) True
3) False
4) True
5) A (none of the above is always necessary)
6) False
7) False
8) C (A unilateral contract that cannot be performed in 10 years)
9) A (Consequential damanges or special damages)
10) D (A contract to sign at a concert)
11) True
12) C (Be signed by both the parties)
13) True
14) True
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