BUS-AD-2900 Study Guide - Midterm Guide: Punitive Damages, Cherry Pie, Lawn Mower
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Contracts exam + business simulation xleob fall,, 2015. Part i: please read carefully each of the following true/false questions, making sure to mark a response for each question, selecting the most correct response. Contract law is one of the most significant areas of law relating to business and commerce. (t)(f) 2. The party that breaches a contract will be subject to legal but not equitable penalties because a contract is a legal document. (t)(f) 3. An executed contract is one that has been fully performed. (t)(f) 4. Quasi-contracts do not arise from a mutual agreement by the parties but are imposed by courts to avoid unjustly enriching a party who should not profit from improper behavior. (t)(f) 5. Advertisements are generally treated as offers, which if accepted, become immediately binding. (t)(f) 6. A rejection of an offer by the offeree will not necessarily terminate an offer. (t)(f) 7.
