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Bussiness law and ethics
1. An individual makes a offer to buy an item from a company for 5k. when is a contract for the purchase of the item created?
When the company makes a counter offer
When the offer is presented to the company xWhen the offer is accepted by the company
When the individual presents the 5k to the company
2. What are the elements that make a contract enforceable?
a. Offer, entitlement, majority, legality
b. Offer, acceptance, consideration, morality
c. Terms, configuration, timeliness, legality
d. Aggrement, consideration, capacity, legality
3. At what point is a contract implied?
a. When written terms of the contract are approved by the parties’ attorneys
b. When all important terms of the contract are expressed in writing
c. When the conduct of the parties indicates the terms of the contract
d. When contract terms are explicitly stated.
4. What action by a party to a contract constitutes a breach of the contract?
a. One party indicates the contract may not be performed in the future unless certain conditions are met.
b. The parties agressnot to perform any of the terms included in the ontract
c. One party refuses to perform on of the contract terms
d. One part request that the other party perform additional actions not included in th contract
5. Which type of remedy to breach of contract is compensatory damages?
a. Equitable remed
b. Restitution remedy
c. Injunctive remedy
d. Expectation remedy
6. ABC company is dominant in a market that XYZ company intends to enter. Which practice is a violation of antitrust laws?
a. ABC reduces prices to its retailers and offers deeper discounts to compete more aggressively with XYZ
b. ABC develops a marketing scheme that compares its products favorable to those by XYZ
c. ABC offers coupons and special sales to its customers to increase market dominance
d. ABC prevents XYZ from using local private carriers by creating exclusive contracet with carriers
7. What is the
1. An individual makes a offer to buy an item from a company for 5k. when is a contract for the purchase of the item created?
When the company makes a counter offer
When the offer is presented to the company xWhen the offer is accepted by the company
When the individual presents the 5k to the company
2. What are the elements that make a contract enforceable?
a. Offer, entitlement, majority, legality
b. Offer, acceptance, consideration, morality
c. Terms, configuration, timeliness, legality
d. Aggrement, consideration, capacity, legality
3. At what point is a contract implied?
a. When written terms of the contract are approved by the parties’ attorneys
b. When all important terms of the contract are expressed in writing
c. When the conduct of the parties indicates the terms of the contract
d. When contract terms are explicitly stated.
4. What action by a party to a contract constitutes a breach of the contract?
a. One party indicates the contract may not be performed in the future unless certain conditions are met.
b. The parties agressnot to perform any of the terms included in the ontract
c. One party refuses to perform on of the contract terms
d. One part request that the other party perform additional actions not included in th contract
5. Which type of remedy to breach of contract is compensatory damages?
a. Equitable remed
b. Restitution remedy
c. Injunctive remedy
d. Expectation remedy
6. ABC company is dominant in a market that XYZ company intends to enter. Which practice is a violation of antitrust laws?
a. ABC reduces prices to its retailers and offers deeper discounts to compete more aggressively with XYZ
b. ABC develops a marketing scheme that compares its products favorable to those by XYZ
c. ABC offers coupons and special sales to its customers to increase market dominance
d. ABC prevents XYZ from using local private carriers by creating exclusive contracet with carriers
7. What is the