BUSI 2001 Week 3 Quiz with Answers

BUSI-2001-3,Business Law Winter 2019 Winter Qtr

Week 3 Quiz

1. Your friend made the following statement: "I might sell my car next month if I can get a good price." This statement is

2. Revocation of an o"er takes place when

3. Unless stated otherwise, acceptance of an o"er made by mail takes place as soon as the letter of acceptance is

4. The best illustration of a legally competent party is

5. Consideration Selected Answer: Correct Answer:

6. Does not always have monetary value Does not always have monetary value

7. Kavik has been declared legally insane by a court. Her purchase of an electric music player for $143.95 is Cigarette lighters, jewelry, and electronic games are classified legally as

8. A court will occasionally enforce a promise unsupported by consideration on the part of the o"eree if it would be grossly unfair not to enforce the promise. This is known as

9. Tommy, a minor, bought headphones for his stereo from The Stereo Store. This agreement is

10. If an agreement is partially legal and partially illegal, the