Homework Answers
Answer 20.
Option c is correct. [both parties make a mistake of fact then agreement is void]
Answer 21.
Option c is correct. - on which innocent party relied [the rest three are important elements of fraud]
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Question 20 (2 points) Which of the following contracts may not fulfill the requirements of an...
Question 14 (2 points) Saved While having lunch at a Wendy's restaurant, Karin offers Sebastian her...
Question 14 (2 points) Saved While having lunch at a Wendy's restaurant, Karin offers Sebastian her priceless original Gauguin painting for $1 because "Sebastian is a good friend and always has been there for her. Karin, a notoriously bad speller, writes the following short agreement on the back of a heavily used yellow paper napkin using multicolored crayons: "I, Karin Miller, herebeye sel to my bestest friend and solemate, Sebastian Jones, my original Goguin peinting (called Summer at the Beech)...
QUESTION 5 With regard to the element of reliance in a fraud claim, which of the...
QUESTION 5 With regard to the element of reliance in a fraud claim, which of the following is NOT true? a. If the claim in issue was very outrageous and extravagant, the innocent party will have a harder time showing his or her reliance was justifiable. b. The reliance must have been justifiable. c. The innocent party does not have to prove he or she relied on the false fact; it is assumed because the fact is false. d. The...
bus law 8. An offer must be a. communicated to the offeree b. intentional not in...
bus
law
8. An offer must be a. communicated to the offeree b. intentional not in jest. 9. "the statute of frauds requires that c. definite and certain d. - all of the above a. all contracts must be in writing b. certain contracts must be signed by both parties c. contracts for the sale of real estate must be signed by party being sued. d. contracts which may be performed in less than one year must be in ....
For each definition (or portion of a definition in the first column, select the term that...
For each definition (or portion of a definition in the first column, select the term that most closely applies. Each term may be used only once or not at all. Term 1. Breach of contract 2. Common law 3. Constructive fraud 4. Defendant 5. Fraud 6. Joint and several liability 7. Negligence S. Ponzi scheme 9. Proportionate liability 10. Proximate cause 11. Scienter 12. Securities Act of 1933 13. Securities Exchange Act of 1934 14. Statutory law Partial (or Complete)...
QUESTION 7 1 points Which of the following is NOT one of the four essential elements...
QUESTION 7 1 points Which of the following is NOT one of the four essential elements of fraud under common law? A material false statement Reliance on the false statement by the victim Knowledge that the statement was false when it was spoken Use of email, wire, or telephone with a criminal intent to deceive QUESTION 8 1 points Using non-financial data to corroborate financial information is: Powerful and its value cannot be overstated Amateurish and used primarily by inexperienced...
check the answers for Question 17&18 called what? D. A toll is a civil wrong committed...
check the answers for Question 17&18
called what? D. A toll is a civil wrong committed against a person or property c. Tort is another term for breach of contract. d. A tort is none of the above. 13. What is a tortfeasor? a. It is the attorney who represents a client in civil court. b. It is a person who commits a felony. c. It is the person who commits a tort. d. It refers to a court's specific...
The differences & similarities between the federal & state court systems. 2. The structure of the...
The differences & similarities between the federal & state court systems. 2. The structure of the Washington state court system; i.e. the trial court of general jurisdiction, the intermediate appellate court, the state supreme court. 3. Remember, Washington is in the 9 th Circuit Court of Appeals. 4. Under both the Washington state and federal court system, there is one appeal as of right. Appeals to the Washington Supreme Court(in the state system), or to the U.S. Supreme Court in...
PART 1: A) True and false questions, 20 points. For each statement indicate if the statement...
PART 1: A) True and false questions, 20 points. For each statement indicate if the statement is correct (T) or false (F),USE THE LEFT SIDE FOR YOUR ANSEWRS. 1) Professional skepticism must be maintained only if the auditor suspects fraud. 2) The term "audit failure" refers to the situation when the auditor has followed auditing standards yet still fails to discover that the client's financial statements are materially misstated. 3) The best defense an auditor can have in litigation against...
1. Which of the following is true about a promissory estoppel? A) It is invoked in...
1. Which of the following is true about a promissory estoppel? A) It is invoked in cases having incompetent parties. B) It permits a court to order enforcement of a contract that lacks consideration. C) It allows for a party to claim goods that were never paid for. D) It is invoked in cases that involve a promissory note. 2. Which of the following is true for a minor under the infancy doctrine? A) A minor is bound to the...
34. In general, contract rights may be assgned. Which of the following types of contract rights...
34. In general, contract rights may be assgned. Which of the following types of contract rights may not be assined? a. personal service contracts assignments of future rights c. contracts for the sale of goods d. A and C only e. A and B only b. 35. Smith tells Jones that he is forming a partnership to invest in a diamond mining operation in South Africa and invites Jones to invest in this lucrative business venture. Jones signs the partnership...
Question 14 (2 points) Saved While having lunch at a Wendy's restaurant, Karin offers Sebastian her priceless original Gauguin painting for $1 because "Sebastian is a good friend and always has been there for her. Karin, a notoriously bad speller, writes the following short agreement on the back of a heavily used yellow paper napkin using multicolored crayons: "I, Karin Miller, herebeye sel to my bestest friend and solemate, Sebastian Jones, my original Goguin peinting (called Summer at the Beech)...
bus
law
8. An offer must be a. communicated to the offeree b. intentional not in jest. 9. "the statute of frauds requires that c. definite and certain d. - all of the above a. all contracts must be in writing b. certain contracts must be signed by both parties c. contracts for the sale of real estate must be signed by party being sued. d. contracts which may be performed in less than one year must be in ....
For each definition (or portion of a definition in the first column, select the term that most closely applies. Each term may be used only once or not at all. Term 1. Breach of contract 2. Common law 3. Constructive fraud 4. Defendant 5. Fraud 6. Joint and several liability 7. Negligence S. Ponzi scheme 9. Proportionate liability 10. Proximate cause 11. Scienter 12. Securities Act of 1933 13. Securities Exchange Act of 1934 14. Statutory law Partial (or Complete)...
QUESTION 7 1 points Which of the following is NOT one of the four essential elements of fraud under common law? A material false statement Reliance on the false statement by the victim Knowledge that the statement was false when it was spoken Use of email, wire, or telephone with a criminal intent to deceive QUESTION 8 1 points Using non-financial data to corroborate financial information is: Powerful and its value cannot be overstated Amateurish and used primarily by inexperienced...
check the answers for Question 17&18
called what? D. A toll is a civil wrong committed against a person or property c. Tort is another term for breach of contract. d. A tort is none of the above. 13. What is a tortfeasor? a. It is the attorney who represents a client in civil court. b. It is a person who commits a felony. c. It is the person who commits a tort. d. It refers to a court's specific...
PART 1: A) True and false questions, 20 points. For each statement indicate if the statement is correct (T) or false (F),USE THE LEFT SIDE FOR YOUR ANSEWRS. 1) Professional skepticism must be maintained only if the auditor suspects fraud. 2) The term "audit failure" refers to the situation when the auditor has followed auditing standards yet still fails to discover that the client's financial statements are materially misstated. 3) The best defense an auditor can have in litigation against...
1. Which of the following is true about a promissory estoppel? A) It is invoked in cases having incompetent parties. B) It permits a court to order enforcement of a contract that lacks consideration. C) It allows for a party to claim goods that were never paid for. D) It is invoked in cases that involve a promissory note. 2. Which of the following is true for a minor under the infancy doctrine? A) A minor is bound to the...
34. In general, contract rights may be assgned. Which of the following types of contract rights may not be assined? a. personal service contracts assignments of future rights c. contracts for the sale of goods d. A and C only e. A and B only b. 35. Smith tells Jones that he is forming a partnership to invest in a diamond mining operation in South Africa and invites Jones to invest in this lucrative business venture. Jones signs the partnership...
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