1. What is true about the
acceptance of a contract?
·
It is effective only once it
has reached the offeror, whether or not it has been properly dispatched by the offeree.
·
It must not support the
mirror image rule.
·
It must be an unequivocal
acceptance, without conditions or exceptions.
·
It cannot be expressed with
silence, even if the offeree has specified that silence means acceptance.
2. Which element of a
contract requires something of legal value to be provided in exchange for a
promise?
·
Consideration
·
Objective intent
·
Agreement
·
Capacity
3. Jason, a 16-year old boy,
enters into a contract with a businessperson to work on a construction project.
According to the contract, Jason has to work long hours but will get paid a
minimal amount because of his age. Jason, though unfamiliar with contracts, knows
that the contract is not fair to him. He decides to cancel it. What gives Jason
the right to void the contract?
·
Minor’s duty of restoration
·
Infancy doctrine
·
Adjudged insane
·
Covenant not to compete
4. What will most likely
happen when there is a material breach by one of the parties in a contract?
·
The breaching party will
restate the express terms of the contract.
·
The contract will be
discharged by both parties.
·
The nonbreaching party will
terminate the contract and recover compensation.
·
The breaching party will affirm
the contract and modify consideration terms.
5. Venus LLC is a supplier
for Synergy Corp. These companies have entered into a contract according to
which, Venus will supply Synergy with a certain quantity of raw materials every
month. In the month of May, Venus realizes that it cannot keep to the terms of
the contract due to an unforeseeable worker strike. It informs Synergy of this
delay much before the planned delivery date. What type of contract breach is
illustrated in the scenario?
·
Minor breach
·
Anticipatory breach
·
Actual breach
·
Retrospective breach
Click
here to download LAW
531 Week 3 Knowledge Check
6. Identify the type of
damages that are awarded to a nonbreaching party when a breach of contract has
occurred but has not resulted in any financial losses for the nonbreaching
party.
·
Consequential damages
·
Penalty damages
·
Nominal damages
·
Special damages
7. Identify the true
statement about the legal protection of trade secrets.
·
The law allows individuals
or companies the use of trade secrets discovered through reverse engineering.
·
The law does not place the
obligation to protect trade secrets on the owners of the trade secrets.
·
The law mandates that all
trade secrets be copyrighted.
·
The law does not categorize
the stealing of a trade secret as a federal crime.
8. What type of subject
matter can be patented according to the U.S. federal government?
·
Scientific hypotheses and
principles
·
Abstractions
·
Designs for a manufactured
product
·
Obvious inventions
Want to see the complete Knowledge Check..?? Click LAW
531 Week 3 Knowledge Check
9. Caleb, a doctoral
student, is sued by the author of a textbook for copyright infringement. The
court rules that Caleb is not guilty since the content was used for the purpose
of review in his research paper. In addition, he has written these paragraphs
verbatim and placed them within quotes, citing appropriate references. What
doctrine has the court most likely applied in this scenario?
·
Fair use doctrine
·
Res ipsa loquiter
·
Lanham doctrine
·
Misrepresentation doctrine
10. Identify the true
statement about personal property.
·
Personal property does not
include items that are captured, purchased, or gifted.
·
Personal property can also
be intangible.
·
Personal property includes
only real property.
·
A single piece of personal
property cannot be owned by two individuals at the same time.
11.Sandra is having her home
renovated. Despite the specifications she has given the contractors, they add a
door to separate her kitchen from her living room. Since Sandra likes the look,
she does not ask them to change it. She also does not pay them extra, since the
door was added by them, mistakenly. Which of the following terms best explains why
Sandra has a right to the added feature without paying for it?
·
Accession
·
Confusion
·
Mislaid property
·
Gift inter vivos
12. Identify the situation
in which two goods that look similar are commingled by owners who share
ownership of the goods based on the proportion of their contributions.
·
Accession
·
Mislaid property
·
Possession
·
Confusion
13. What is true about real
property, including land?
·
Real property includes
property that is movable.
·
An owner of land has rights
to the earth that lies beneath the land.
·
An owner of land owns the vegetation
on the land only if the owner himself has cultivated the vegetation.
·
Real property does not
encompass fixtures.
14. Mary owns a piece of
land and enjoys complete legal rights to the land, without any conditions or
limitations. Her ownership does not end unless she transfers the land to a beneficiary.
There are also no limitations on the inheritability of the land. Which type of freehold
estate does Mary most likely own?
·
Fee simple defeasible
·
Life estate
·
Qualified fee
·
Fee simple absolute
15. Gabriella and Priya own
a piece of property together. The ownership terms state that in case of the
death of one of the owners, the surviving owner will automatically gain complete
ownership of the property. What kind of concurrent ownership is illustrated in
this scenario?
·
Joint tenancy
·
Tenancy by the entirety
·
Community property
·
Tenancy in common
16. What is the best
description of mislaid property?
·
It is real property that is
discarded by the owner.
·
It is real property that has
been constructed at the wrong place.
·
It is personal property that
has been unintentionally forgotten by the owner.
·
It is personal property that
has been lost by the owner.
17. Identify the true
statement about the ownership of mislaid, abandoned, and lost property.
·
The owner of lost property
cannot claim ownership of it when it has been acquired by someone else.
·
The finder of abandoned
property acquires ownership of the property even against the previous owner.
·
The finder of mislaid property
can rightfully claim a share in the property from the owner.
·
The owner who abandons a
piece of property will still be considered the rightful owner of the property,
even if the property has been acquired by another individual.
Want to check out the complete Knowledge Check..?? Visit LAW
531 Week 3 Knowledge Check
18. Paulina purchased a rare
and expensive gem when she was living in Mexico. Since then, she has relocated
various times. Now, seven years later, Paulina cannot find the rare gem and
does not know where she last saw it. After various attempts to find it, Paulina
has decided not to look for the gem again. What will the rare gem most likely
be categorized as in this scenario?
·
Real property
·
Abandoned property
·
Mislaid property
·
Lost property
About
Author
This article covers the topic for the University of
Phoenix LAW
531 Week 3 Knowledge Check The author is working in the field of education from last 5
years. This article covers the basic of LAW
531 Week 3 Knowledge Check from UOP. Other topics in the class are as follows:
No comments:
Post a Comment