1. Values that govern a society\'s attitude toward right and wrong are called (P

Question

1.     Values that govern a society's attitude toward right and wrong are called

(Points : 1)

       morals.
       ethics.
       law.
       none of the above.

2. A previous case that a certain court must follow is called a (Points : 1)

       persuasive precedent.
       stare decisis.
       precedent.
       statutory law

3. The law is established by the government to maintain harmony, stability, and (Points : 1)

       economy.
       justice.
       utility.
       ethics.

4. What is or what is not a crime is determined by (Points : 1)

       the opinions of legal scholars
       statutory law
       public opinion
       professors in law schools

5. In many respects administrative agencies are like a government because they include: (Points : 1)

       legislative, executive and judicial functions
       legislative, appellate and judicial functions
       executive, regulatory, and judicial functions
       legislative, executive, and appellate functions

6. A written statement, which has been signed by Charlie Manzini and Barney Zinger, states that Charlie will pay Barney $4 million for killing Geril Gringe. (Points : 1)

       a valid contract.
       a unilateral contract.
       a void contract.
       an implied contract.

7. An advertisement reads, "Jena chairs are marked down by 20 percent to $110. The first six people to purchase a Jena chair on May 20 will receive an additional 20 percent off and a free seat cushion." The advertisement is (Points : 1)

       an invitation to trade.
       an offer.
       a public offer.
       none of the above.

8. All but one of the following elements is required of an enforceable contract. The exception is: (Points : 1)

       offer and acceptance
       mutual agreement
       consideration
       a general understanding of the contract by one party

9. A minor has the legal right to repudiate (Points : 1)

       an executory contract.
       goods and services required by law.
       an enlistment contract in the armed forces based on a claim of incapacity to contract.
       all of teh above.

10. Goods and services that are essential to a minor's health and welfare are known as (Points : 1)

       presumptives.
       necessaries.
       rudiments.
       none of the above.

11. A woman who can neither speak nor read English purchases a stereo system from a local electronics store. Although the stereo is advertised for $450, the store owners charge the woman $10,000. A court would most likely consider this transaction (Points : 1)

       the result of accord and satisfaction.
       an unconscionable contract.
       a bargained-for exchange.
       an enforceable contract.

12. Charitable pledges made to fund a specific project are considered (Points : 1)

       unenforceable
       enforceable
       enforceable only in cases involving amounts greater than $500
       enforceable only in cases tried in federal courts

13. The term of goods that do not exist at the time of sale, such as crops and unborn livestock, is: (Points : 1)

       expected goods
       nonexisting goods
       future goods
       intangible futures

14. After betting $4 million on the outcome of a professional baseball game, Jilke wants to make sure that he does not lose his money. He enters an agreement with one team's starting pitcher. The pitcher agrees to throw "fat" home run balls to the other team's batters in exchange for $75,000 from Jilke. Such an agreement is (Points : 1)

       valid and enforceable.
       valid but unenforceable.
       illegal and void.
       void and enforceable.

15. The Statute of Frauds refers to: (Points : 1)

       the requirements that certain kinds of contracts be in writing
       allowable changes in an existing contract
       certain illegal contracts
       the parties who can contract

1.     Values that govern a society's attitude toward right and wrong are called

(Points : 1)

       morals.
       ethics.
       law.
       none of the above.

Explanation / Answer

Question 1). Answer :- Option A). Morals.

Question 2). Answer :- Option C). Precedent.

Question 3). Answer :- Option B). Justice.

Question 4). Answer :- Option B). Statutory law.

Question 5). Answer :- Option A). Legislative, executive and judicial functions

Question 6). Answer :- Option C). A void contract.

Question 7). Answer :- Option B). An offer.

Question 8). Answer :- Option D). A general understanding of the contract by one party.

Question 9). Answer :- Option D). All of the above.

Question 10). Answer :- Option B). Necessaries.

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