Business Law > EXAM > Business Law I final exam Questions with 100% Correct Answers | Updated & Verified (All)

Business Law I final exam Questions with 100% Correct Answers | Updated & Verified

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1. Question : Giving a ring to one's fiance is an example of a conditional gift to be returned if the couple decides not to get married. Student Answer: CORRECT True False Points Received: 6 of 6 C... omments: 2. Question : According to the principle of federal supremacy and the U.S. Constitution, federal law never defeats conflicting state law. Student Answer: True CORRECT False Points Received: 6 of 6 Comments: 3. Question : A misdemeanor is a type of tort. Student Answer: INCORRECT True CORRECT False Points Received: 0 of 6 Comments: 4. Question : Generally, silence is not considered acceptance. Student Answer: CORRECT True INCORRECT False Points Received: 0 of 6 Comments: 5. Question : Under the mailbox rule, an authorized acceptance is effective even if it is not received. Student Answer: CORRECT True False Points Received: 6 of 6 Comments: 6. Question : A boat blown into the wrong dock by a storm is considered abandoned property. Student Answer: True CORRECT False Points Received: 6 of 6 Comments: 7. Question : Substantial performance does not apply if the breach of contract was willful. Student Answer: CORRECT True False Points Received: 6 of 6 Comments: 8. Question : Contracts for the sale of goods for $500 or more must be in writing according to the Statute of Frauds. Student Answer: CORRECT True False Points Received: 6 of 6 Comments: 9. Question : Appellate courts hear issues of law. Student Answer: CORRECT True False Points Received: 6 of 6 Comments: 10. Question : Mediation is binding. Student Answer: True CORRECT False Points Received: 6 of 6 Comments: 1. Question : If a minor enters into a contract with an adult, the contract [Show More]

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