[SOLVED] EXAMS Multiple Choice Part 5
___ 46. Mary promises to pay her assistant Ned $10,000 in consideration of the services he provided over the years.
Mary never pays Ned. Mary is
a. liable for payment of the $10,000.
b. not liable, because the consideration was unintentional.
c. not liable, because the consideration is in the past [Answer]
d. liable only if Ned still works for Mary.
____ 47. The idea for “Prices & Profit,” an app that businesses can use to control their revenue, profits,
and payrolls, is protected by
a. copyright law
b. trade secrets law [Answer]
c. patent law
d. trademark law
____ 48. Shasta offers to sell a used hay baler to Roberto, but receives a letter of acceptance from Quito, who has no
relation to roberto. A valid contract exists between
a. Shasta and roerto.
b. Shast and Quito.
c. none of the choices [Answer]
d. Roberto and Quito.
____ 49. Gold and Sweet Company bottles and sells maple syrup from its plant in Vermont. On the labels is a logo
that states “100% genuine New England Maple Syrup Certified by the Northeast Maple Syrup Harvesters
Association.” This logo is
a. none of the choices.
b. a service mark.
c. a certification mark [Answer]
d. trade dress.
____ 50. Standard Corporation can not claim a trademark in the phrase “Quality Is Standard” if the phrase
a. has a secondary meaning.
b. is generic [Answer]
c. is memorable.
d. is descriptive.
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____ 51. Sincere Forms, Inc., uses, in its ads, a trademark that is similar, but not identical, to the famous, registered
mark of Desired Objects, Inc. Sincere’s unauthorized use of the mark constitutes trademark dilution provided
a. Sincere and Desired are competitors.
b. Sincere’s use lessens the value of Desired’s mark [Answer]
c. consumers are confused.
d. Sincere’s use is intentional.
____ 52. Jen questions whether there is consideration for her contract with Isaac to exchange her catering services for
his payment of a certain amount. To constitute consideration, the value of whatever is exchanged must be
a. objectively worthy.
b. practically sound.
c. legally sufficient [Answer]
d. grossly inadequate.
____ 53. Herm promises to pay Nixie to work as an assistant buyer for his Organic Foods stores. Nixie agrees and quits
her job with Pic-U Grocery, but Herm does not hire her. Herm is most likely liable to Nixie under
a. the doctrine of promissory estoppel [Answer]
b. no circumstances.
c. the concept of accord and satisfaction.
d. the preexisting duty rule.
____ 54. Kay and Leo enter into a contract that falls within the provisions of the UETA. Under the UETA, “an
electronic sound, symbol, or process attached tot or logically associated with a record and executed or
adopted by a person with the intent to sign the record” is
a. a record.
b. an e-transaction.
c. an e-document.
d. an e-signature [Answer]
____ 55. Nate tells Opal, “I might sell the skis that I bought last fall since I haven’t used them and the skiing season is
almost over.” This is
a. an offer.
b. an acceptance of an offer.
c. an invitation to accept an offer.
d. a statement of future intent [Answer]
____ 56. Under a contract with Bucolic Farms, Agro Excavation, Inc., begins digging an agricultural pond. In
mid-project, Agro asks for $15,000 over the contract price, claiming an increase in the “cost of doing
business.” Bucolic agrees but later refuses to pay. Their agreement is
a. unenforceable because Agro’s performance was a preexisting duty [Answer]
c. unenforceable because Bucolic’s promise was illusory.
d. unenforceable because its performance is unforeseeably difficult.
____ 57. Odell invents “Profits Unbound”, a new stock-trading algorithm software, and applies for a patent. If Odell is
grated a patent, his invention will be protected for
b. ten years.
c. for the life of the inventor plus seventy years.
d. twenty years [Answer]
____ 58. Following negotiations, Office Park, Inc., enters into an informal contract with Quality Janitoral Company for
custodial services for Office Park’s buildings. This means that the parties’ contract
a. requires no special form [Answer]
b. is no yet completely formed.
c. is subject to change by either party, within reason.
d. is freely open to either party’s interpretation
____ 59. Quik Fix-It, Inc., offers Pam a job as a plumber. No time for acceptance is specified in the offer. The offer
a. after a reasonable period of time [Answer]
c. after a typical work week (five business days).
d. after a usual month (thirty calendar days).
____ 60. Mark is creating Nu2U.com, a Web site through which he will enter into contract over the Internet. Important
terms to include in his offers include
a. a detailed history of his business.
b. glowing reviews from former customers.
c. provisions specifying the remedies if the contract is breached [Answer]
d. his educational background.