Singapore American School ECON 102 QUIZ 7 1)Which does not describe an exemption clause: a)            The terms of an exemption clause must be reasonably brought to the attention of a party agreeing to it b)            Unusual terms must be brought to the attention of the party agreeing to it   c)            You are bound by the terms regardless if you read them d)            Contracts with exemption clauses are ineffective if unsigned     2

Singapore American School

ECON 102

QUIZ 7

1)Which does not describe an exemption clause:

a)            The terms of an exemption clause must be reasonably brought to the attention of a party agreeing to it

b)            Unusual terms must be brought to the attention of the party agreeing to it

c)            You are bound by the terms regardless if you read them

d)            Contracts with exemption clauses are ineffective if unsigned

2.            Which is most accurate regarding exemption clauses?

a)            An exemption clause is not enforceable if it does not accurately cover the matter exempted

b)            An exemption clause is valid even if one of the parties is at a disadvantage

c)            The courts will enforce an exemption clause where it is unconscionable as long as the parties have signed the contract

d)            An exemption clause can exempt the terms of the SGA

3.            Which is correct regarding exemption clauses?

a)            An entire agreement clause or exemption clause can exempt any type of misrepresentation

b)            Used goods under the SGA may not be subject to an exemption clause

c)            The Maloney case states that with a contract with an exemption clause the law is caveat emptor

d)            An exemption clause can exempt all liability including fundamental breach