Business Law I BA 303-01 June 2010
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Quiz # 2 - Chapter 9

<< Back to Quiz #2 - Chapter 9

Email the the answers only to the five M/C questions.

_____1. A person who has legal ______ to contract is one who has the mental ability to understand his or her rights and obligations under a contract and, therefore, will presumably be able to understand how to comply with the terms of the agreement.

A. Inquiry

B. Acknowledgement

C. Capacity

D. Knowledge

E. Affirmance

_____2. Because their contracts are ______, minors have the right, until a reasonable time after reaching the age of majority, to _____ or avoid their contracts.

A. Void, disaffirm

B. Void, affirm

C. Void, resist

D. Voidable, disaffirm

E. Voidable, affirm

_____3. If a legal contract is formed and the subject of the contract then becomes illegal under a new statute, the contract is ______.

A. Discharged

B. Enforced

C. Disregarded

D. Executed

E. Executory

_____4. The term ______ refers to the fact that an agreement is so unfair that it is void of conscience.

A. Unreasonable

B. Outrageous

C. Unconscionable

D. Unrealistic

E. Unbelievable

_____5. Which of the following involves overly harsh or lopsided substance in an agreement?

A. Substantive unconscionability

B. Adhesion conscionability

C. Procedural unconscionability

D. Exculpatory clauses

E. An in pari delicto agreement.

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