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Question
Liz, a promoter, hired an office support staff for a corporation that had not yet been incorporated. If there is a novation clause in a subsequent contract with the corporation and the staff, then:
A. the corporation will not be bound by any of Liz's contracts.
B. the office support staff will work without pay until the corporation becomes incorporated.
C. Liz will escape potential liability under the novation contract entered into.
D. Liz and the corporation will be held equally liable under all contracts entered into.
Answer
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Related questions
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Nicholas entered into a written contract with Mondo Choco, Inc., agreeing to pay Mondo Choco $700 for several hundred assortments of holiday chocolates for the employees of his corporation. Mondo Choco failed to deliver the chocolates by the date set in the contract. Nicholas then told Mondo Choco that he would cover the sale. Discuss.
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_____ is a court action that allows a person entitled to goods to recover them from someone who has them wrongfully.
A. Adjustment
B. Writ of replevin
C. Specific performance
D. Cover the sale
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Gerald orders 1,000 cupcakes from Haddock Bakers for a Christmas Eve party. However, Haddock fails to deliver the cupcakes as per the schedule mentioned in the contract, and does not send any notification to Gerald. Gerald orders the cupcakes from Marlene's Cakes that evening. This is an example of which of the following?
A. Writ of replevin
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Q:
Turban, an immigrant who speaks little English, enters into a contract to pay $300 per month for ten years to purchase an auto from Travel Motor Co. The appraised retail value of the car is $5000. What legal remedy would release Turban from his contract?
A. Unconscionability
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C. Punitive damages
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A commercial unit is a single whole for the purpose of sale, the division of which impairs its character or value on the market.
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Which of the following is true of insurable interest?
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B. Buyers cannot place insurance on goods.
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Q:
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Q:
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B. pass to the buyer at the point of origin.
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Q:
Which of the following is true of international sales law?
A. It governs only the formation of a sales contract and the rights and duties that arise from it.
B. It is concerned with the validity of a contract that would be governed by other laws.
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D. It applies to auctions sales, sales of stocks, securities, negotiable instruments or money.
Q:
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A. Oral contracts can occur between merchants and consumers for sale of good of $500 or more.
B. A written conformation is received and signed by one party, and sent to the other for approval.
C. A written conformation is received by a party and to which it does not object to within 10 days.
D. An oral objection is accepted to a written confirmation for the sales of goods for $500.
Q:
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A. Future goods
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Q:
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A. Title does not transfer in a bailment.
B. Title transfers in a bailment but no price is involved.
C. In both there is a transfer of title but in a bailment the title reverts to the bailer at the end of the bailment.
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In a contract for which no delivery is required, title to the goods does not pass to the buyer until the buyer receives the goods.
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In a shipment contract, risk of loss does not pass from the seller to the buyer until the buyer receives the goods.
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In an auction with reserve, the auctioneer must accept the highest bid.
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A sale of goods contract offer is silent concerning the method of acceptance. It may be accepted in any reasonable manner.
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B. exemplary damages.
C. nominal damages.
D. speculative damages.
Q:
Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called:
A. a constructive breach of contract.
B. substantial performance.
C. abandonment of contractual obligations.
D. a repudiation of contract.