MBA 603: FINAL REVIEW
ASSESSMENT EXAMS WITH
CORRECT QUESTIONS AND
ANSWERS.
No, he cannot collect and they are not required to pay. - ✔️✔️Brandon says he will provide affordable
services to anyone who needs help. Although his licensure exams are not out yet & he is sure he passed.
Legally, are patients required to pay for his services before he gets licensed?
Bait and Switch - ✔️✔A ️ n alluring but insincere offer to sell a product or service that the advertiser does
not really intend to sell.
Any contract that takes > 1 year to perform; contract to pay the debt of another. - ✔️✔️Which of the
following contracts should be in writing to be enforceable in courts under the statute of fraud?
Bait and Switch - ✔️✔D ️ avid went to the store to purchase $120 CD player advertised in the paper. The
sales person only intends to sell from stock of $1000 CD players. What is this salesperson doing?
Executory - ✔️✔️Eloise made a contract in Jan. that gave her until the end of the year to complete her
work on a new computer system for Dexter. In mid-July, Eloise is working on the computer system. The
contract in July is?
Yes, you cannot revoke the option. Non-revocable. - ✔️✔️An option contract: Contract now with terms
later. If I give you a contract with an option in it and we sign the contract, you can execute that option
whenever?
Yes because spaceview performed the required action. - ✔️✔H ️ igh Flight offers $1M to the makers of
the 1st private spacecraft. Within 30 days from High Flight's offer, SpaceView succeeds, but High Flight
refuses to pay. Is High Flight bound by its offer?
, No, the acceptance did not take the form of the contract. (No legal contract) - ✔️✔️Anthony offers to
sell a computer to Salvador for $900 if Salvador replies by email only no later than 12PM on Sat.
Salvador is unable to access his email on Sat but mails a written acceptance before 12PM on Sat. Is there
a legal contract now?
No, you don't even have to send it back. - ✔️✔️Delivery of unordered merch through the mail. Do you
have to pay?
No, she paid for an option to keep it for 4 days. - ✔️✔️Brittany found an Apt. she likes and asked
manager to hold. He agreed to hold for 4 days for $100. Brittany finds another Apt she likes and signs a
lease with the manager. Does the 1st manager have to return the $100?
Necessaries, NO.
Executory, YES. - ✔️✔️Which of the following contracts are voidable by minors at their option?
A person who has sustained a mental impairment can void a contract. - ✔️✔️Which of the following is
true in contract law?
ALL of the above - ✔️✔️Which of the following are ways a principal agency relationship can he
terminated? Insanity, bankruptcy, death?
Yes she committed a tort and no, the employment contract is not enforceable and void. - ✔️✔️Lizzy
works as a journalist. Editor will fire her if she doesn't publish a story defaming a tv celeb. Once
published, editor fires Lizzy. Lizzy wants to bring a lawsuit against her editor for firing her. Has Lizzy
committed a tort and can she bring a lawsuit?
Inhibits the PERFORMANCE of the contract (can enter but not perform). - ✔️✔️Which of the following is
true of the laws constricting Sunday business?
Obstruction of Justice - ✔️✔️Jeanie, a prosecutor, agrees that she will not prosecute Martin's son if he
employs her for 2 years after charges are dropped. What crime has Jeanie committed?
Special Agent - ✔️✔️An agent who is only authorized to conduct a particular transaction or a series of
related transactions or perform only a specified act for the principal.
ASSESSMENT EXAMS WITH
CORRECT QUESTIONS AND
ANSWERS.
No, he cannot collect and they are not required to pay. - ✔️✔️Brandon says he will provide affordable
services to anyone who needs help. Although his licensure exams are not out yet & he is sure he passed.
Legally, are patients required to pay for his services before he gets licensed?
Bait and Switch - ✔️✔A ️ n alluring but insincere offer to sell a product or service that the advertiser does
not really intend to sell.
Any contract that takes > 1 year to perform; contract to pay the debt of another. - ✔️✔️Which of the
following contracts should be in writing to be enforceable in courts under the statute of fraud?
Bait and Switch - ✔️✔D ️ avid went to the store to purchase $120 CD player advertised in the paper. The
sales person only intends to sell from stock of $1000 CD players. What is this salesperson doing?
Executory - ✔️✔️Eloise made a contract in Jan. that gave her until the end of the year to complete her
work on a new computer system for Dexter. In mid-July, Eloise is working on the computer system. The
contract in July is?
Yes, you cannot revoke the option. Non-revocable. - ✔️✔️An option contract: Contract now with terms
later. If I give you a contract with an option in it and we sign the contract, you can execute that option
whenever?
Yes because spaceview performed the required action. - ✔️✔H ️ igh Flight offers $1M to the makers of
the 1st private spacecraft. Within 30 days from High Flight's offer, SpaceView succeeds, but High Flight
refuses to pay. Is High Flight bound by its offer?
, No, the acceptance did not take the form of the contract. (No legal contract) - ✔️✔️Anthony offers to
sell a computer to Salvador for $900 if Salvador replies by email only no later than 12PM on Sat.
Salvador is unable to access his email on Sat but mails a written acceptance before 12PM on Sat. Is there
a legal contract now?
No, you don't even have to send it back. - ✔️✔️Delivery of unordered merch through the mail. Do you
have to pay?
No, she paid for an option to keep it for 4 days. - ✔️✔️Brittany found an Apt. she likes and asked
manager to hold. He agreed to hold for 4 days for $100. Brittany finds another Apt she likes and signs a
lease with the manager. Does the 1st manager have to return the $100?
Necessaries, NO.
Executory, YES. - ✔️✔️Which of the following contracts are voidable by minors at their option?
A person who has sustained a mental impairment can void a contract. - ✔️✔️Which of the following is
true in contract law?
ALL of the above - ✔️✔️Which of the following are ways a principal agency relationship can he
terminated? Insanity, bankruptcy, death?
Yes she committed a tort and no, the employment contract is not enforceable and void. - ✔️✔️Lizzy
works as a journalist. Editor will fire her if she doesn't publish a story defaming a tv celeb. Once
published, editor fires Lizzy. Lizzy wants to bring a lawsuit against her editor for firing her. Has Lizzy
committed a tort and can she bring a lawsuit?
Inhibits the PERFORMANCE of the contract (can enter but not perform). - ✔️✔️Which of the following is
true of the laws constricting Sunday business?
Obstruction of Justice - ✔️✔️Jeanie, a prosecutor, agrees that she will not prosecute Martin's son if he
employs her for 2 years after charges are dropped. What crime has Jeanie committed?
Special Agent - ✔️✔️An agent who is only authorized to conduct a particular transaction or a series of
related transactions or perform only a specified act for the principal.
