University of the People - BUSINESS 3305

Question1)Which of the following is an example of a bilateral contract? Select one:

1. Adele offers to sell her cell phone to Boris for $25; Boris says he will pay Adele $25 for her cell phone next Saturday.
2. Adele offers to sell her cell phone to Boris for $25; Adele gives Boris the phone

3. 

   Adele says to Boris and her other friends, "If someone gave me a dollar, I'd give them my cell phone;" Boris hands her a dollar.

4. 

   Adele says to Boris and her other friends, "I'd like to sell my cell phone;" Boris says he'll give Adele a dollar; Adele says she'll give the cell phone.

Question 2

"Widget" is a trademark for a product made by "The Widget Company." Other companies make products very similar to the "Widget." Soon, writers, journalists, and the public begin referring to all such similar products as "widgets." What is the most likely result?

Select one:

1. 

   The Widget Company does not have to take any action, because its trademark is registered.

2. 

   The government will act to ensure that the term "Widget" is used according to the trademark law.
3. The other companies will sue The Widget Company for trademark infringement.
4. The Widget Company will lose the trademark unless it takes active steps to protect it.

Question 3

In general, employers are:

Select one:

1. required to enter into contracts with employees.
2. not required to enter into written contracts with employees.

3. required to have an agreement with employees.
4. required to spell out the terms of the employment relationship.

Question 4

In the United States, if an employer discovers an employee discussing forming a union, the employer:

Select one:

1. can have the employee fired.
2. ban discussions about labor unions.

3. must recognize the employee's right to do so.
4. cannot do anything to stop it, even if the employee is leafleting on company time.

Question 5

Which of the following generally CANNOT be trademarked? Select one:

1. Words
2. Colors
3. A container shape

4. Government symbols

Question 6

Which of the following lists the required elements of a valid common law contract? Select one:

1. Offer and acceptance, consideration, capacity, contract in writing

2. Offer and acceptance, consideration, capacity, legal purpose
3. Offer and acceptance, exchange of money, capacity, legal purpose
4. Offer and acceptance, exchange of promises, capacity, legal purpose

Question 7

Essential elements of a contract include all of the following EXCEPT: Select one:

1. Consideration.

2. Must be in writing.
3. Offer and acceptance.
4. Legal capacity.

Question 8

In the United States, employees have the right to self-organization, which includes all of the following rights EXCEPT:

Select one:

1. to form, join, or assist labor organizations
2. to bargain collectively through representatives of their own choosing
3. to engage in other concerted activities for the purpose of collective bargaining

4. to occupy employer property as part of a labor action.

Question 9

To be patentable, an invention must be all of the following EXCEPT: Select one:

1. New.
2. Useful.

3. Easy to use.
4. Nonobvious.

Question 10

Intangible personal property would include which of the following? Select one:

1. A lamp attached to the wall of a house

2. 100 shares of Apple stock
3. A stamp collection
4. A laptop computer

Question 11

A labor contract is:

Select one:

1. an agreement between an employer and labor organization to regulate work-related issues

2. generally incorporates the at-will doctrine as one of its terms.
3. is generally binding on the employer only since the employee can leave at any time.
4. is generally only enforceable through a court trial.

Question 12

Fill in the blank. In a unilateral contract, the accepting party can only accept with

                          . Select one:

1. A promise

2. An exchange of consideration
3. Money
4. An action

Question 13

Which of the following scenarios can be characterized as a unilateral contract? Select one:

1. Anna offers to buy Barbara's car for $6000, and Barbara agrees to the deal.

2. 

   Anna asks Barbara to care for her garden; for this, Anna will pay Barbara $25 per hour; Barbara accepts.
3. Anna offers a reward of $500 for the return of her lost dog; Barbara returns Anna's dog to

her.

4. Anna tells Barbara she will give her $500, if Barbara helps look for her dog; Barbara

accepts and begins to look for the dog.

Question 14

Alphonse wants to leave his house to his son upon his death. But he does not like or trust his son's wife and does not want her to own the house should his son die before her. What interest in real property should he give his son so that his son can have the house while he is alive and ensure his son's wife does not gain ownership of the house upon his son's death?

Select one:

1. Fee simple absolute
2. Fee simple defeasible
3. Life estate
4. Tenancy in common

Question 15

The Statute of Frauds applies in all of the following situations, EXCEPT: Select one:

1. Contracts for the provision of personal services.
2. Contracts for goods of $500 or more.
3. Contracts for sale of real property.
4. Contracts that cannot be completed within one year.

Question 16

Fill in the blank. All common law contracts must contain valid                         , meaning there must be a bargained-for exchange of promises or acts, and each party must incur a new legal detriment or obligation.

Select one:

1. Offers
2. Acceptance

3. Capacity
4. Consideration

Question 17

All of the following are examples of real property EXCEPT: Select one:

1. A house.
2. The lamp attached to the outside of a house.

3. The potted plant sitting on the front step of a house.
4. The railing running up the steps in front of a house.

Question 18

Employment discrimination based on a person's personal appearance may be allowed because: Select one:

1. the at-will employment doctrine allows discrimination.
2. employment contracts generally allow for this kind of discrimination.

3. only certain classes are protected against discrimination, such as members of a race.
4. the laws against discrimination generally are not enforced.

Question 19

In order to convey title to real property as a gift, all of the following requirements must be met EXCEPT:

Select one:

1. There must be a written contract.