QUESTION 51 Which of the following is an example of incidental damages you might be awarded if you are wrongfully termin

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QUESTION 51
Which of the following is an example of incidental damages you
might be awarded if you are wrongfully terminated from your
job?
the costs of mailing resumes to prospective employers
the costs of cosmetic surgery
the costs of psychological counseling
the costs of a new wardrobe for future interviews
1 points
QUESTION 52
Specific performance may be available for the breach of a
contract to sell
20 shares of Walmart stock.
a 2007 Mustang in mint condition.
an original painting.
a Nintendo Wii video game system.
1 points
QUESTION 53
Jackie hires Charles to lay new carpet in her bedroom. Charles
does such a bad job, that the only way to fix the carpet is to
start over and relay the carpet. Which of the following best
describes this situation?
This is a material breach. Jackie owes nothing to Charles.
This is substantial performance. Jackie owes nothing to
Charles.
This is substantial performance. Jackie must still pay something
to Charles.
This is a material breach. Jackie must still pay something to
Charles.
1 points
QUESTION 54
The UCC does not apply to a contract for the sale of goods if
the value of the goods is less than $500.
True
False
1 points
QUESTION 55
Under the UCC, a merchant is frequently held to a higher
standard of conduct than a non-merchant.
True
False
1 points
QUESTION 56
In a mixed contract involving both goods and services, Article 2
of the UCC will govern if the predominant purpose is the sale of
goods.
True
False
1 points
QUESTION 57
Which of the following would be considered a merchant under the
UCC?
A man who owns a jewelry store sells his used car to a
neighbor.
A gun dealer sells a rifle to someone who enters his shop.
A woman sells her pistol to someone responding to a classified
ad.
All of these are correct.
1 points
QUESTION 58
Which of the following is TRUE regarding an open price term?
The price may be fixed by the seller.
The price is set by the buyer.
The price is the "reasonable" price at the time of delivery.
It makes the contract unenforceable.
1 points
QUESTION 59
All of the following parties had a hand in creating the UCC
except
the U.S. Senate.
the American Law Institute.
the National Conference of Commissioners on Uniform State
Laws.
None of these are correct.
1 points
QUESTION 60
By definition, a sale under Article 2 of the UCC requires
that the parties involved be merchants.
that title to the goods pass between the seller and the buyer
and that a price be paid for the goods.
that the product involved be an item that can be sold or
leased.
that the product involved be goods, services, or a mixture; that
the sale be between or among merchants; and that the sale take
place in the normal course of business for that industry.
1 points
QUESTION 61
Which of the following contracts requires a writing under the
UCC, Article 2?
A toy manufacturer contracted to sell dolls valued at $10,000 to
a department store.
Tobias Department Store contracted to sell Jenny a $400
doll.
Kayla, a full-time student, purchased a used computer from
Office Plus for $300.
Jeremy, a full-time student, sold his snow blower to a friend
for $450.
1 points
QUESTION 62
Generally, filing bankruptcy stops the collection activity of
creditors.
True
False
1 points
QUESTION 63
Chapters 11 and 13 are liquidation chapters.
True
False
1 points
QUESTION 64
In a voluntary petition, a claim of exemptions lists
the debtor's assets and debts.
the names and addresses of all creditors.
all assets that the debtor is entitled to keep.
the debtor's job, income, and expenses.
1 points
QUESTION 65
Who is responsible for gathering the bankrupt's assets and
dividing them among creditors?
the executor
the trustee
the creditors' committee
the state court
1 points
QUESTION 66
Chapter 7 bankruptcy is also known as
voluntary bankruptcy.
straight bankruptcy.
reaffirmation.
reorganization.
1 points
QUESTION 67
Under the federal Bankruptcy Code, the exemption amount for the
debtor's personal residence is
$23,675.
$125,000.
$55,200.
unlimited.
1 points
QUESTION 68
The correct order of payment of claims from the debtor's estate
would be
secured claims, unsecured claims, priority claims.
secured claims, priority claims, unsecured claims.
priority claims, secured claims, unsecured claims.
priority claims, unsecured claims, secured claims.
1 points
QUESTION 69
What is the "gap period"?
the period of time that creditors must wait to be paid once a
plan of payment is approved
the period between the time a debtor files for bankruptcy and
the time that he is granted discharge
the period between the time a debtor files for bankruptcy and
the time that the plan of payment is approved
the period between the time that a creditor files for an
involuntary petition and the court issues the order for relief
1 points
QUESTION 70
An agent must obey all instructions of the principal.
True
False