LAW531

Which type of property is item A?

 A ring Hugh received from his grandmother several months before she died

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mislaid property
abandoned property
gift
inherited (bequeathed) property
purchase

Bookmark question for laterWhich identifier describes the nature of item A?

 A ring Hugh received from his grandmother several months before she died

tangible property
intangible/intellectual property
realty

Bookmark question for laterWhich type of property is item B?

A motorbike Ned got from the Harley-Davidson store for $53,000

mislaid property
abandoned property
gift
inherited (bequeathed) property
purchase

Bookmark question for laterWhich identifier describes the nature of item B?

A motorbike Ned got from the Harley-Davidson store for $53,000

tangible property
intangible/intellectual property
realty

Bookmark question for laterWhich type of property is item C?

A motorless army jeep left on the plot of land Corey bought

mislaid property
abandoned property
gift
inherited (bequeathed) property
purchase

Bookmark question for laterWhich identifier describes the nature of item C?

A motorless army jeep left on the plot of land Corey bought

tangible property
intangible/intellectual property
realty

Bookmark question for laterWhich type of property is item D?

A pair of high-quality cleats that Candace found on the football field after a game

mislaid property
abandoned property
gift
inherited (bequeathed) property
purchase

Bookmark question for laterWhich identifier describes the nature of item D?

A pair of high-quality cleats that Candace found on the football field after a game

tangible property
intangible/intellectual property
realty

Bookmark question for laterWhich type of property is item E?

A Sony Walkman that Mary left in her will for her nephew, Zeppelin

mislaid property
abandoned property
gift
inherited (bequeathed) property
purchase

Bookmark question for laterWhich identifier describes the nature of item E?

A Sony Walkman that Mary left in her will for her nephew, Zeppelin

tangible property
intangible/intellectual property
realty

Bookmark question for laterWhich type of property is item F?

The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired

mislaid property
abandoned property
gift
inherited (bequeathed) property
purchase

Bookmark question for laterWhich identifier describes the nature of item F?

The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired

intangible/intellectual property
realty
tangible property

Bookmark question for laterWhich of the following is not true of offers?

An offeree’s silence may be counted as an agreement.
If a counteroffer is accepted, the original offer is terminated.
An offer may be terminated immediately if the offeree refuses it.
An offeree may reject an offer and present a counteroffer.

Bookmark question for laterWhich of the following constitutes grounds for canceling a contract?

mutual mistake of value
bilateral mistake of value
mutual mistake of fact
unilateral mistake of fact

Bookmark question for later_________________ damages are designed to punish someone for breaching a contract and are usually only available in fraud or bad faith cases.

Nominal
Punitive
Consequential
Compensatory

Bookmark question for laterWhich of the following contracts is required to be in writing?

a contract for the sale of a bicycle for $200
a contract for the lease of a motorcycle with payments of $500
a contract for the sale of a bed for $350
a prenuptial agreement

Bookmark question for laterA valid contract must include all of the following except which one?

mutual respect
legality
agreement
assent

Bookmark question for laterThe __________ rule states that an offer made by one merchant to another may remain open for a set time during which it cannot be revoked.

firm offer
main purpose
mirror image
parol evidence

Bookmark question for laterA person who owes a duty under a contract is called a(n) _________________.

assignor
delegator
obligor
offeror

Bookmark question for laterA person who is owed a right under a contract is called a(n) _________________.

delegatee
offeree
assignee
obligee

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